UFP Industries (NASDAQ:UFPI) Issues Quarterly Earnings Results

UFP Industries (NASDAQ:UFPI) released its quarterly earnings data on Monday. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25), Briefing.com reports. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 earnings per share.

UFP Industries Trading Down 0.7 %

NASDAQ:UFPI opened at $121.50 on Thursday. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 15.22 and a beta of 1.39. UFP Industries has a one year low of $90.62 and a one year high of $139.54. 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 business’s 50-day simple moving average is $126.83 and its 200 day simple moving average is $120.53.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, December 2nd. UFP Industries’s payout ratio is 16.42%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UFPI shares. Stifel Nicolaus lifted 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. Benchmark upped their price target 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. BMO Capital Markets increased their price target on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Finally, Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and increased their target price for the company from $120.00 to $155.00 in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

About UFP Industries

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.