UFP Technologies (UFPT) Raised to “Buy” at BidaskClub

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BidaskClub upgraded shares of UFP Technologies (NASDAQ:UFPT) from a hold rating to a buy rating in a research report report published on Thursday, September 20th.

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded UFP Technologies from a buy rating to a hold rating in a research note on Thursday, August 2nd. Taglich Brothers restated a buy rating on shares of UFP Technologies in a research note on Wednesday, August 29th. Finally, Zacks Investment Research upgraded UFP Technologies from a hold rating to a buy rating and set a $40.00 price target on the stock in a research note on Saturday, September 1st.

Shares of UFP Technologies stock traded down $0.73 during midday trading on Thursday, hitting $33.52. The company had a trading volume of 18,813 shares, compared to its average volume of 15,216. The company has a quick ratio of 1.91, a current ratio of 2.83 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $270.46 million, a P/E ratio of 26.82 and a beta of 0.01. UFP Technologies has a 52-week low of $26.00 and a 52-week high of $39.98.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.04. UFP Technologies had a return on equity of 9.11% and a net margin of 6.17%. The company had revenue of $49.02 million for the quarter, compared to the consensus estimate of $49.50 million. As a group, equities analysts expect that UFP Technologies will post 2.12 EPS for the current year.

In other UFP Technologies news, insider R Jeffrey Bailly sold 2,194 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $36.45, for a total transaction of $79,971.30. Following the sale, the insider now directly owns 508,901 shares of the company’s stock, valued at $18,549,441.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP W David Smith sold 7,286 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $34.58, for a total value of $251,949.88. Following the sale, the vice president now directly owns 19,837 shares in the company, valued at $685,963.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,619 shares of company stock worth $2,296,779. 12.30% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its position in shares of UFP Technologies by 2.0% during the second quarter. Northern Trust Corp now owns 89,542 shares of the industrial products company’s stock valued at $2,762,000 after purchasing an additional 1,791 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 valued at $1,857,000 after purchasing an additional 9,696 shares in the last quarter. Quantum Capital Management grew its position in shares of UFP Technologies by 24.6% during the second quarter. Quantum Capital Management now owns 31,989 shares of the industrial products company’s stock valued at $987,000 after purchasing an additional 6,312 shares in the last quarter. Cove Street Capital LLC grew its position in shares of UFP Technologies by 5.8% during the second quarter. Cove Street Capital LLC now owns 711,072 shares of the industrial products company’s stock valued at $21,936,000 after purchasing an additional 39,090 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of UFP Technologies by 1.1% during the second quarter. Renaissance Technologies LLC now owns 569,100 shares of the industrial products company’s stock valued at $17,557,000 after purchasing an additional 6,300 shares in the last quarter. Hedge funds and other institutional investors own 68.73% of the company’s stock.

UFP Technologies Company Profile

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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