Unique Fabricating (NYSEAMERICAN:UFAB) Upgraded to “Buy” by Zacks Investment Research

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Zacks Investment Research upgraded shares of Unique Fabricating (NYSEAMERICAN:UFAB) from a hold rating to a buy rating in a report released on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $3.00 target price on the auto parts company’s stock.

According to Zacks, “Unique Fabricating, Inc. is a supplier of components in the automotive and industrial appliance market. The Company’s solutions comprised of multi-material foam, rubber and plastic components for noise, vibration and harshness management, acoustical management, water and air sealing, decorative and other functional applications. Its processes include die cutting, thermoforming, compression molding, fusion molding and assembly. The company operates primarily in Auburn Hills, Michigan, LaFayette, Georgia and Monterrey, Mexico. Unique Fabricating, Inc. is headquartered in Auburn Hills, Michigan. “

Separately, TheStreet cut shares of Unique Fabricating from a c rating to a d rating in a research note on Friday, August 30th.

Shares of UFAB stock traded up $0.06 on Friday, hitting $2.67. 19,953 shares of the stock traded hands, compared to its average volume of 11,107. Unique Fabricating has a 52 week low of $2.27 and a 52 week high of $7.10. The firm has a 50 day simple moving average of $2.71 and a two-hundred day simple moving average of $3.23.

Unique Fabricating (NYSEAMERICAN:UFAB) last announced its quarterly earnings data on Thursday, November 7th. The auto parts company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The firm had revenue of $38.55 million for the quarter, compared to the consensus estimate of $39.50 million.

In related news, Director Richard L. Baum, Jr. bought 23,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $2.64 per share, with a total value of $62,040.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Large investors have recently modified their holdings of the business. Susquehanna International Group LLP purchased a new position in shares of Unique Fabricating in the 2nd quarter worth $34,000. JFS Wealth Advisors LLC purchased a new position in shares of Unique Fabricating in the 2nd quarter worth $73,000. Vanguard Group Inc. grew its stake in shares of Unique Fabricating by 42.4% in the 2nd quarter. Vanguard Group Inc. now owns 85,246 shares of the auto parts company’s stock worth $231,000 after buying an additional 25,400 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its stake in shares of Unique Fabricating by 1.3% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 621,849 shares of the auto parts company’s stock worth $1,685,000 after buying an additional 7,795 shares in the last quarter.

Unique Fabricating Company Profile

Unique Fabricating, Inc engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration, harshness, acoustical management, water and air sealing, decorative, and other functional applications. It offers die cut products, such as trim insulation, headliner insulation, fender acoustical pad, A/B/C pillar cover, dashboard seal, cup holder base, and under hood insulation products, as well as heating, ventilation, and air conditioning (HVAC) seals; thermoformed and compression molded products, including HVAC air ducts, door water shields, evaporator liners, console bin mats and fender insulators, and others; and fusion molded products comprising interior mirror, body-in-white, cowl to hood, and cowl to fender seals.

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