UFP Technologies (NASDAQ:UFPT) Shares Gap Down – Time to Sell?

UFP Technologies, Inc. (NASDAQ:UFPT) gapped down before the market opened on Tuesday . The stock had previously closed at $192.55, but opened at $182.50. UFP Technologies shares last traded at $190.9870, with a volume of 70,989 shares changing hands.

Analyst Ratings Changes

UFPT has been the subject of a number of analyst reports. Zacks Research upgraded shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Wall Street Zen upgraded shares of UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $289.00.

UFP Technologies Stock Performance

The business’s 50-day simple moving average is $202.02 and its two-hundred day simple moving average is $221.03. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 23.71 and a beta of 1.08. The company has a quick ratio of 1.52, a current ratio of 2.68 and a debt-to-equity ratio of 0.32.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.30. UFP Technologies had a net margin of 11.33% and a return on equity of 19.36%. The firm had revenue of $154.20 million during the quarter, compared to the consensus estimate of $154.78 million. During the same quarter in the prior year, the firm earned $2.47 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that UFP Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in shares of UFP Technologies during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC raised its position in shares of UFP Technologies by 1,500.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 165 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of UFP Technologies during the 2nd quarter worth about $49,000. PNC Financial Services Group Inc. raised its position in shares of UFP Technologies by 66.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 94 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of UFP Technologies during the 3rd quarter worth about $51,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.