Zacks: UFP Technologies, Inc. (UFPT) Given Average Rating of “Strong Buy” by Analysts
Shares of UFP Technologies, Inc. (NASDAQ:UFPT) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Analysts have set a 12-month consensus price objective of $30.00 for the company and are expecting that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also given UFP Technologies an industry rank of 117 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered shares of UFP Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th.
Shares of UFP Technologies (NASDAQ:UFPT) opened at $27.40 on Friday. UFP Technologies has a 1-year low of $22.95 and a 1-year high of $31.50. The firm has a market cap of $205.68, a PE ratio of 25.96 and a beta of 0.12.
UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.13). UFP Technologies had a net margin of 5.43% and a return on equity of 6.83%. The business had revenue of $35.68 million during the quarter, compared to analyst estimates of $38.70 million. research analysts anticipate that UFP Technologies will post 1.12 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new stake in UFP Technologies during the second quarter valued at about $112,000. Macquarie Group Ltd. acquired a new position in shares of UFP Technologies in the 3rd quarter valued at about $128,000. New York State Common Retirement Fund increased its holdings in shares of UFP Technologies by 559.1% in the 2nd quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 5,597 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of UFP Technologies by 21.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,998 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 1,237 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of UFP Technologies in the 2nd quarter valued at about $221,000. 69.08% of the stock is owned by institutional investors.
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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.
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