Universal Forest Products (UFPI) Upgraded at ValuEngine

Universal Forest Products (NASDAQ:UFPI) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday, May 29th.

A number of other research firms have also recently commented on UFPI. Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, February 28th. BidaskClub upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Finally, BMO Capital Markets restated a “hold” rating and set a $37.00 price target on shares of Universal Forest Products in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Universal Forest Products presently has a consensus rating of “Buy” and an average target price of $38.50.

Universal Forest Products traded down $0.42, reaching $37.65, during trading hours on Tuesday, according to Marketbeat.com. The company’s stock had a trading volume of 274,800 shares, compared to its average volume of 296,053. Universal Forest Products has a fifty-two week low of $25.93 and a fifty-two week high of $39.58. The stock has a market capitalization of $2.41 billion, a PE ratio of 20.42, a P/E/G ratio of 3.15 and a beta of 1.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.67 and a current ratio of 3.33.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, April 18th. The construction company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Universal Forest Products had a return on equity of 12.44% and a net margin of 3.21%. The firm had revenue of $993.90 million for the quarter, compared to analysts’ expectations of $914.75 million. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. equities research analysts forecast that Universal Forest Products will post 2.49 earnings per share for the current fiscal year.

In other news, VP Charles Scott Greene sold 7,095 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $33.62, for a total transaction of $238,533.90. Following the sale, the vice president now owns 9,383 shares of the company’s stock, valued at $315,456.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick M. Webster sold 12,881 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $38.76, for a total value of $499,267.56. Following the sale, the chief operating officer now directly owns 201,560 shares in the company, valued at approximately $7,812,465.60. The disclosure for this sale can be found here. Insiders have sold 24,126 shares of company stock worth $874,547 over the last 90 days. 3.40% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its position in shares of Universal Forest Products by 64.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 26,682 shares of the construction company’s stock worth $865,000 after acquiring an additional 10,496 shares during the period. Principal Financial Group Inc. increased its position in shares of Universal Forest Products by 2.2% during the first quarter. Principal Financial Group Inc. now owns 481,510 shares of the construction company’s stock worth $15,625,000 after acquiring an additional 10,361 shares during the period. WINTON GROUP Ltd increased its position in shares of Universal Forest Products by 12.2% during the first quarter. WINTON GROUP Ltd now owns 178,827 shares of the construction company’s stock worth $5,803,000 after acquiring an additional 19,445 shares during the period. Xact Kapitalforvaltning AB increased its position in shares of Universal Forest Products by 96.7% during the first quarter. Xact Kapitalforvaltning AB now owns 11,795 shares of the construction company’s stock worth $383,000 after acquiring an additional 5,800 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Universal Forest Products by 1.9% during the first quarter. Legal & General Group Plc now owns 126,143 shares of the construction company’s stock worth $4,072,000 after acquiring an additional 2,368 shares during the period. 77.88% of the stock is currently owned by institutional investors and hedge funds.

Universal Forest Products Company Profile

Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood composite decking, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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