Universal Forest Products, Inc. (UFPI) Issues Earnings Results
Universal Forest Products, Inc. (NASDAQ:UFPI) announced its quarterly earnings data on Tuesday. The construction company reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.08, RTT News reports. Universal Forest Products had a return on equity of 11.73% and a net margin of 2.86%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $984.99 million. During the same quarter last year, the firm posted $1.36 earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year.
Universal Forest Products (UFPI) opened at 97.50 on Wednesday. Universal Forest Products has a 12-month low of $77.80 and a 12-month high of $108.79. The stock has a 50 day moving average price of $93.32 and a 200-day moving average price of $89.86. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 19.34 and a beta of 1.84.
A number of equities research analysts have commented on UFPI shares. BidaskClub cut Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. BMO Capital Markets assumed coverage on Universal Forest Products in a report on Tuesday. They issued a “market perform” rating and a $110.00 target price on the stock. Zacks Investment Research upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, Sidoti assumed coverage on Universal Forest Products in a report on Tuesday, July 25th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Universal Forest Products presently has an average rating of “Hold” and a consensus target price of $110.00.
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In other Universal Forest Products news, insider Patrick M. Webster sold 996 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $88.93, for a total transaction of $88,574.28. Following the transaction, the insider now owns 58,919 shares in the company, valued at approximately $5,239,666.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick M. Webster sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $88.80, for a total value of $133,200.00. Following the transaction, the insider now owns 59,915 shares in the company, valued at approximately $5,320,452. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Universal Forest Products Company Profile
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.
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