UFP Technologies, Inc. (UFPT) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of UFP Technologies, Inc. (NASDAQ:UFPT) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $31.00 target price on the industrial products company’s stock.
According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “
Separately, TheStreet upgraded UFP Technologies from a c+ rating to a b rating in a research note on Monday, May 1st.
UFP Technologies (NASDAQ:UFPT) opened at 26.60 on Tuesday. The company’s 50-day moving average is $27.80 and its 200 day moving average is $26.65. The company has a market cap of $193.30 million, a price-to-earnings ratio of 21.63 and a beta of 0.18. UFP Technologies has a 12 month low of $22.79 and a 12 month high of $29.00.
UFP Technologies (NASDAQ:UFPT) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $37.89 million for the quarter, compared to analysts’ expectations of $40 million. UFP Technologies had a return on equity of 6.86% and a net margin of 6.03%. Equities analysts forecast that UFP Technologies will post $1.41 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in UFPT. American International Group Inc. boosted its stake in shares of UFP Technologies by 6.9% in the first quarter. American International Group Inc. now owns 3,939 shares of the industrial products company’s stock worth $102,000 after buying an additional 255 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of UFP Technologies during the second quarter worth about $112,000. First Quadrant L P CA bought a new stake in shares of UFP Technologies during the second quarter worth about $187,000. New York State Common Retirement Fund boosted its stake in shares of UFP Technologies by 559.1% in the second quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock worth $187,000 after buying an additional 5,597 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of UFP Technologies by 21.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,998 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,237 shares in the last quarter. Institutional investors own 68.21% of the company’s stock.
UFP Technologies Company Profile
UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.
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