UFP Technologies (NASDAQ:UFPT) Shares Gap Up on Earnings Beat

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $240.94, but opened at $255.00. UFP Technologies shares last traded at $257.85, with a volume of 15,176 shares traded.

The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

Institutional Investors Weigh In On UFP Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its holdings in shares of UFP Technologies by 65.4% during the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock valued at $133,188,000 after buying an additional 166,262 shares during the period. Boston Trust Walden Corp bought a new stake in shares of UFP Technologies during the 4th quarter valued at about $26,395,000. Raymond James Financial Inc. purchased a new stake in shares of UFP Technologies during the 4th quarter valued at about $16,808,000. Price T Rowe Associates Inc. MD lifted its stake in shares of UFP Technologies by 55.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company’s stock worth $43,625,000 after purchasing an additional 63,899 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of UFP Technologies by 508.8% in the fourth quarter. Royal Bank of Canada now owns 69,145 shares of the industrial products company’s stock worth $16,907,000 after buying an additional 57,787 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Price Performance

The company has a market capitalization of $1.99 billion, a P/E ratio of 36.50 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The firm’s 50-day moving average is $257.78 and its 200-day moving average is $291.72.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.