Zacks: UFP Technologies, Inc. (UFPT) Receives Average Rating of “Strong Buy” from Brokerages
UFP Technologies, Inc. (NASDAQ:UFPT) has earned a consensus 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.
Brokers have set a one year consensus price objective of $27.50 for the company and are expecting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given UFP Technologies an industry rank of 96 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered shares of UFP Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th.
Institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. raised its holdings in UFP Technologies by 6.9% in the first quarter. American International Group Inc. now owns 3,939 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 255 shares during the period. Acadian Asset Management LLC acquired a new stake in UFP Technologies in the second quarter worth $112,000. First Quadrant L P CA acquired a new stake in UFP Technologies in the second quarter worth $187,000. New York State Common Retirement Fund raised its holdings in UFP Technologies by 559.1% in the second quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 5,597 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of UFP Technologies by 21.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,998 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 1,237 shares in the last quarter. Institutional investors own 68.25% of the company’s stock.
Shares of UFP Technologies (NASDAQ UFPT) traded down $3.05 on Friday, reaching $27.05. 38,077 shares of the company were exchanged, compared to its average volume of 16,118. The firm has a market capitalization of $198.41, a PE ratio of 25.05 and a beta of 0.18.
UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.13). UFP Technologies had a net margin of 5.43% and a return on equity of 6.90%. The business had revenue of $35.68 million during the quarter, compared to analyst estimates of $38.70 million. equities research analysts anticipate that UFP Technologies will post 1.41 earnings per share for the current fiscal year.
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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