DA Davidson Reaffirms “Buy” Rating for UFP Industries (NASDAQ:UFPI)

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $112.00 price objective on the construction company’s stock. DA Davidson’s price objective would suggest a potential upside of 3.15% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus set a $98.00 price objective on UFP Industries in a report on Tuesday, December 2nd. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, UFP Industries currently has an average rating of “Hold” and a consensus target price of $107.33.

UFP Industries Stock Up 2.1%

Shares of UFP Industries stock traded up $2.26 during trading hours on Tuesday, reaching $108.58. 138,724 shares of the company’s stock were exchanged, compared to its average volume of 363,102. The stock has a market cap of $6.33 billion, a P/E ratio of 20.02 and a beta of 1.49. The company has a 50 day moving average of $102.87 and a two-hundred day moving average of $97.64. The company has a current ratio of 4.49, a quick ratio of 3.23 and a debt-to-equity ratio of 0.07. UFP Industries has a fifty-two week low of $87.11 and a fifty-two week high of $118.00.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.33). UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $1.12 EPS. The business’s revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts forecast that UFP Industries will post 7.08 EPS for the current fiscal year.

Insider Transactions at UFP Industries

In related news, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the sale, the director owned 14,697 shares of the company’s stock, valued at approximately $1,373,140.71. The trade was a 7.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Matthew J. Missad sold 11,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $92.26, for a total transaction of $1,014,860.00. Following the completion of the transaction, the chairman owned 310,533 shares in the company, valued at approximately $28,649,774.58. This trade represents a 3.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.56% of the company’s stock.

Institutional Trading of UFP Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the business. World Investment Advisors bought a new position in shares of UFP Industries during the second quarter worth about $394,000. AlphaQuest LLC increased its position in UFP Industries by 822.7% during the 3rd quarter. AlphaQuest LLC now owns 8,480 shares of the construction company’s stock valued at $793,000 after purchasing an additional 7,561 shares during the period. Caxton Associates LLP bought a new position in UFP Industries during the 2nd quarter worth approximately $1,099,000. New York State Common Retirement Fund lifted its position in shares of UFP Industries by 117.5% in the 3rd quarter. New York State Common Retirement Fund now owns 86,589 shares of the construction company’s stock worth $8,095,000 after purchasing an additional 46,775 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of UFP Industries in the 3rd quarter valued at $41,962,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.