BidaskClub downgraded shares of Universal Forest Products (NASDAQ:UFPI) from a hold rating to a sell rating in a research report sent to investors on Friday.

A number of other equities research analysts have also weighed in on UFPI. BMO Capital Markets assumed coverage on Universal Forest Products in a research report on Tuesday, October 17th. They set a market perform rating and a $36.67 target price for the company. Zacks Investment Research raised Universal Forest Products from a hold rating to a strong-buy rating and set a $41.67 target price for the company in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $39.17.

Shares of Universal Forest Products (NASDAQ UFPI) traded up $0.76 during midday trading on Friday, reaching $38.37. The company’s stock had a trading volume of 179,546 shares, compared to its average volume of 203,007. The company has a current ratio of 2.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The company has a market cap of $2,300.76, a price-to-earnings ratio of 21.60, a PEG ratio of 1.72 and a beta of 1.84. Universal Forest Products has a 1-year low of $25.93 and a 1-year high of $39.58.

Universal Forest Products (NASDAQ:UFPI) last issued its earnings results on Tuesday, October 17th. The construction company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $984.99 million. Universal Forest Products had a return on equity of 12.05% and a net margin of 2.85%. Universal Forest Products’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. equities research analysts anticipate that Universal Forest Products will post 1.87 earnings per share for the current year.

In other news, VP Charles Scott Greene sold 3,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $39.05, for a total value of $117,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Coleman sold 5,000 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $110.15, for a total value of $550,750.00. Following the completion of the transaction, the executive vice president now directly owns 1,680 shares of the company’s stock, valued at $185,052. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,899 shares of company stock valued at $2,159,694. 3.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Universal Forest Products by 5.0% in the 2nd quarter. Amalgamated Bank now owns 2,768 shares of the construction company’s stock worth $242,000 after acquiring an additional 133 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of Universal Forest Products by 4.3% in the 2nd quarter. Suntrust Banks Inc. now owns 3,519 shares of the construction company’s stock worth $306,000 after acquiring an additional 146 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Universal Forest Products by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,440 shares of the construction company’s stock worth $1,348,000 after acquiring an additional 221 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Universal Forest Products by 13.5% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,951 shares of the construction company’s stock worth $486,000 after acquiring an additional 590 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Universal Forest Products by 2.9% in the 2nd quarter. New York State Common Retirement Fund now owns 21,300 shares of the construction company’s stock worth $1,860,000 after acquiring an additional 599 shares in the last quarter. 26.69% of the stock is owned by hedge funds and other institutional investors.

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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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