Zacks: UFP Technologies, Inc. (UFPT) Receives Average Rating of “Strong Buy” from Brokerages
Shares of UFP Technologies, Inc. (NASDAQ:UFPT) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus price objective of $41.00 for the company and are predicting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given UFP Technologies an industry rank of 61 out of 255 based on the ratings given to related companies.
Several equities analysts have recently weighed in on the company. BidaskClub lowered UFP Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th. ValuEngine lowered UFP Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Taglich Brothers reissued a “buy” rating on shares of UFP Technologies in a research report on Wednesday, August 29th. Finally, Zacks Investment Research raised UFP Technologies from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Saturday, September 1st.
UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The firm had revenue of $49.02 million during the quarter, compared to the consensus estimate of $49.50 million. UFP Technologies had a net margin of 6.17% and a return on equity of 9.11%. Equities research analysts expect that UFP Technologies will post 2.12 earnings per share for the current fiscal year.
In other news, VP W David Smith sold 7,286 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $34.58, for a total value of $251,949.88. Following the completion of the sale, the vice president now owns 19,837 shares in the company, valued at $685,963.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R Jeffrey Bailly sold 2,194 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $36.45, for a total value of $79,971.30. Following the completion of the sale, the insider now owns 508,901 shares of the company’s stock, valued at approximately $18,549,441.45. The disclosure for this sale can be found here. Insiders have sold a total of 64,619 shares of company stock valued at $2,296,779 in the last quarter. 12.30% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in UFPT. Dimensional Fund Advisors LP lifted its holdings in UFP Technologies by 16.3% in the first quarter. Dimensional Fund Advisors LP now owns 222,278 shares of the industrial products company’s stock valued at $6,557,000 after acquiring an additional 31,173 shares during the period. Acadian Asset Management LLC lifted its holdings in UFP Technologies by 137.0% during the second quarter. Acadian Asset Management LLC now owns 7,337 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 4,241 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in UFP Technologies during the second quarter worth about $1,398,000. First Trust Advisors LP bought a new position in UFP Technologies during the second quarter worth about $231,000. Finally, Bank of New York Mellon Corp lifted its holdings in UFP Technologies by 19.2% during the second quarter. Bank of New York Mellon Corp now owns 60,195 shares of the industrial products company’s stock worth $1,857,000 after acquiring an additional 9,696 shares in the last quarter. Institutional investors and hedge funds own 68.73% of the company’s stock.
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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