UFP Industries (NASDAQ:UFPI) Raised to Outperform at Wedbush

Wedbush upgraded shares of UFP Industries (NASDAQ:UFPI) from a neutral rating to an outperform rating in a report released on Tuesday, MarketBeat Ratings reports. Wedbush currently has $155.00 price target on the construction company’s stock, up from their prior price target of $120.00. Wedbush also issued estimates for UFP Industries’ Q3 2024 earnings at $1.93 EPS, Q4 2024 earnings at $1.46 EPS, FY2024 earnings at $7.40 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $2.28 EPS, Q3 2025 earnings at $2.07 EPS, Q4 2025 earnings at $1.55 EPS, FY2025 earnings at $7.72 EPS, Q1 2026 earnings at $1.95 EPS, Q2 2026 earnings at $2.40 EPS, Q3 2026 earnings at $2.16 EPS and FY2026 earnings at $8.13 EPS.

A number of other research firms also recently issued reports on UFPI. Stifel Nicolaus raised their price target on UFP Industries from $125.00 to $157.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Benchmark boosted their price target on UFP Industries from $133.00 to $155.00 and gave the company a buy rating in a research note on Wednesday, July 31st. StockNews.com cut shares of UFP Industries from a strong-buy rating to a buy rating in a research note on Friday, July 5th. Finally, BMO Capital Markets boosted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a market perform rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, UFP Industries has an average rating of Moderate Buy and a consensus price target of $139.60.

UFP Industries Price Performance

UFPI opened at $136.89 on Tuesday. The company’s 50-day simple moving average is $123.46 and its two-hundred day simple moving average is $119.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The stock has a market capitalization of $8.34 billion, a P/E ratio of 17.71 and a beta of 1.39. UFP Industries has a 52-week low of $90.62 and a 52-week high of $137.32.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $2.36 earnings per share. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, analysts predict that UFP Industries will post 7.29 EPS for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.96%. UFP Industries’s payout ratio is currently 17.08%.

Institutional Investors Weigh In On UFP Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UFPI. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of UFP Industries by 0.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock worth $361,155,000 after purchasing an additional 28,601 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in UFP Industries by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after buying an additional 5,784 shares during the period. AQR Capital Management LLC raised its holdings in UFP Industries by 22.7% during the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after acquiring an additional 112,518 shares during the period. Wasatch Advisors LP lifted its position in shares of UFP Industries by 5.2% in the fourth quarter. Wasatch Advisors LP now owns 334,351 shares of the construction company’s stock valued at $41,978,000 after acquiring an additional 16,486 shares in the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. boosted its stake in shares of UFP Industries by 82.3% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock worth $29,007,000 after acquiring an additional 114,166 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

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.