UFP Industries (NASDAQ:UFPI) Releases Quarterly Earnings Results, Beats Expectations By $0.97 EPS

UFP Industries (NASDAQ:UFPI) released its quarterly earnings results on Tuesday. The construction company reported $2.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.97, Briefing.com reports. UFP Industries had a return on equity of 21.29% and a net margin of 5.21%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. UFP Industries’s revenue for the quarter was up 117.4% on a year-over-year basis.

Shares of UFP Industries stock traded up $0.28 during trading hours on Thursday, hitting $72.97. The company’s stock had a trading volume of 17,862 shares, compared to its average volume of 276,200. The stock has a 50 day moving average price of $75.13. UFP Industries has a 12-month low of $48.82 and a 12-month high of $89.97. The firm has a market cap of $4.51 billion, a P/E ratio of 14.48 and a beta of 1.54. The company has a current ratio of 2.84, a quick ratio of 1.50 and a debt-to-equity ratio of 0.27.

In related news, CFO Michael R. Cole sold 6,656 shares of the business’s stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $81.25, for a total value of $540,800.00. Also, Director William G. Currie sold 25,000 shares of the business’s stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $80.57, for a total value of $2,014,250.00. Insiders sold 38,731 shares of company stock worth $3,150,058 over the last 90 days. Company insiders own 3.53% of the company’s stock.

UFPI has been the subject of several recent research reports. Zacks Investment Research lowered UFP Industries from a “strong-buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Tuesday, June 22nd. Sidoti raised UFP Industries from a “neutral” rating to a “buy” rating and set a $93.00 price target for the company in a report on Monday. Wedbush boosted their price target on UFP Industries from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, April 22nd. Finally, Benchmark boosted their price target on UFP Industries from $80.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, April 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. UFP Industries has a consensus rating of “Buy” and an average price target of $81.57.

About UFP Industries

UFP Industries, Inc manufactures and distributes wood and wood alternative products. It operates through the following segments: Retail, Industrial and Construction. The Retail segment comprises national home center retailers, retail-oriented regional lumberyards and contractor-oriented lumberyards. The Industrial segment manufacturers pallets, specialty crates, wooden boxes, and other containers used for packaging, shipping and material handling purposes.

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Earnings History for UFP Industries (NASDAQ:UFPI)

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