Wedbush Reaffirms “Outperform” Rating for UFP Industries (NASDAQ:UFPI)

UFP Industries (NASDAQ:UFPI)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research report issued on Monday, RTT News reports. They currently have a $155.00 price target on the construction company’s stock. Wedbush’s target price would suggest a potential upside of 23.87% from the company’s current price.

Several other brokerages also recently weighed in on UFPI. Benchmark boosted their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets raised their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Stock Up 1.7 %

Shares of UFPI traded up $2.05 during midday trading on Monday, reaching $125.13. The stock had a trading volume of 39,704 shares, compared to its average volume of 279,872. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.18. The company’s fifty day simple moving average is $126.88 and its two-hundred day simple moving average is $120.72. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 17.20 and a beta of 1.39. UFP Industries has a 1-year low of $100.25 and a 1-year high of $139.54.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company posted $2.10 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. Equities research analysts expect that UFP Industries will post 7.18 earnings per share for the current year.

Hedge Funds Weigh In On UFP Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in UFPI. UMB Bank n.a. lifted its position in UFP Industries by 300.0% in the third quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock valued at $25,000 after purchasing an additional 144 shares during the period. Headlands Technologies LLC purchased a new stake in shares of UFP Industries in the second quarter valued at approximately $29,000. Signaturefd LLC grew its holdings in UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after acquiring an additional 76 shares during the period. Triad Wealth Partners LLC purchased a new position in UFP Industries in the second quarter worth $56,000. Finally, GAMMA Investing LLC lifted its holdings in UFP Industries by 84.2% in the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after acquiring an additional 234 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.