UFP Technologies (NASDAQ:UFPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday. They presently have a $41.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.86% from the stock’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. “

A number of other equities analysts have also recently weighed in on the company. ValuEngine upgraded UFP Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. BidaskClub cut UFP Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. Finally, Taglich Brothers restated a “buy” rating on shares of UFP Technologies in a report on Wednesday, August 29th.

Shares of NASDAQ:UFPT traded up $0.10 during midday trading on Thursday, hitting $36.65. 4,978 shares of the stock were exchanged, compared to its average volume of 16,438. The company has a quick ratio of 1.80, a current ratio of 2.74 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $269.49 million, a PE ratio of 29.32 and a beta of 0.08. UFP Technologies has a twelve month low of $26.02 and a twelve month high of $39.98.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Thursday, November 1st. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. UFP Technologies had a return on equity of 10.74% and a net margin of 7.13%. The business had revenue of $47.81 million during the quarter, compared to analysts’ expectations of $49.80 million. As a group, equities analysts anticipate that UFP Technologies will post 2.09 earnings per share for the current year.

In other UFP Technologies news, insider R Jeffrey Bailly sold 9,907 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $36.60, for a total value of $362,596.20. Following the completion of the transaction, the insider now owns 491,347 shares in the company, valued at approximately $17,983,300.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 40,349 shares of company stock valued at $1,456,874. 12.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cove Street Capital LLC raised its position in shares of UFP Technologies by 5.8% in the 2nd quarter. Cove Street Capital LLC now owns 711,072 shares of the industrial products company’s stock valued at $21,936,000 after purchasing an additional 39,090 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of UFP Technologies by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 569,100 shares of the industrial products company’s stock valued at $17,557,000 after acquiring an additional 6,300 shares in the last quarter. Vanguard Group Inc. raised its position in shares of UFP Technologies by 18.8% during the 3rd quarter. Vanguard Group Inc. now owns 376,971 shares of the industrial products company’s stock valued at $13,854,000 after acquiring an additional 59,576 shares in the last quarter. BlackRock Inc. raised its position in shares of UFP Technologies by 1.7% during the 3rd quarter. BlackRock Inc. now owns 346,505 shares of the industrial products company’s stock valued at $12,733,000 after acquiring an additional 5,669 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of UFP Technologies by 7.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 264,570 shares of the industrial products company’s stock valued at $9,722,000 after acquiring an additional 17,916 shares in the last quarter. 70.61% of the stock is currently owned by institutional investors.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. The company offers medical devices and components, disposable wound care components, automotive interior trims, athletic paddings, abrasive nail files and other beauty aids, air filtration products, high-temperature insulations, military uniform and gear components, and cushion packaging products.

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