UFP Technologies, Inc. (NASDAQ:UFPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm presently has a $30.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.94% from the company’s previous close.

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. “

UFP Technologies (NASDAQ UFPT) opened at $26.80 on Friday. The stock has a market capitalization of $194.77, a P/E ratio of 24.22 and a beta of 0.18. UFP Technologies has a 1 year low of $22.95 and a 1 year high of $31.50.

UFP Technologies (NASDAQ:UFPT) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.13). The company had revenue of $35.68 million for the quarter, compared to analysts’ expectations of $38.70 million. UFP Technologies had a net margin of 5.43% and a return on equity of 6.83%. analysts predict that UFP Technologies will post 1.41 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “UFP Technologies, Inc. (UFPT) Upgraded to Buy at Zacks Investment Research” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.watchlistnews.com/ufp-technologies-inc-ufpt-upgraded-to-buy-at-zacks-investment-research/1711693.html.

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in shares of UFP Technologies by 2.0% during the second quarter. Renaissance Technologies LLC now owns 546,300 shares of the industrial products company’s stock valued at $15,460,000 after buying an additional 10,900 shares during the last quarter. WCM Investment Management CA lifted its holdings in UFP Technologies by 1.3% during the third quarter. WCM Investment Management CA now owns 280,591 shares of the industrial products company’s stock worth $7,885,000 after acquiring an additional 3,695 shares during the period. Vanguard Group Inc. lifted its holdings in UFP Technologies by 1.3% during the second quarter. Vanguard Group Inc. now owns 226,532 shares of the industrial products company’s stock worth $6,411,000 after acquiring an additional 2,945 shares during the period. FMR LLC lifted its holdings in UFP Technologies by 105.5% during the second quarter. FMR LLC now owns 205,504 shares of the industrial products company’s stock worth $5,816,000 after acquiring an additional 105,504 shares during the period. Finally, Punch & Associates Investment Management Inc. lifted its holdings in UFP Technologies by 7.3% during the second quarter. Punch & Associates Investment Management Inc. now owns 192,000 shares of the industrial products company’s stock worth $5,434,000 after acquiring an additional 13,100 shares during the period. 68.63% of the stock is currently owned by institutional investors.

About UFP Technologies

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.

Receive News & Ratings for UFP Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UFP Technologies Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.