BMO Capital Markets assumed coverage on shares of Universal Forest Products, Inc. (NASDAQ:UFPI) in a research report issued to clients and investors on Tuesday, October 17th. The firm set a “market perform” rating and a $110.00 price target on the construction company’s stock. BMO Capital Markets’ target price would indicate a potential downside of 2.32% from the company’s current price.
Several other brokerages have also recently weighed in on UFPI. Zacks Investment Research upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Sidoti assumed coverage on Universal Forest Products in a research report on Tuesday, July 25th. They set a “buy” rating for the company. Finally, BidaskClub cut Universal Forest Products from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $117.50.
Shares of Universal Forest Products (NASDAQ UFPI) traded up $0.29 during mid-day trading on Tuesday, reaching $113.18. 14,061 shares of the company’s stock were exchanged, compared to its average volume of 147,920. The company has a current ratio of 2.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2,301.99, a PE ratio of 21.18, a PEG ratio of 2.01 and a beta of 1.84. Universal Forest Products has a 1 year low of $77.80 and a 1 year high of $114.28.
Universal Forest Products shares are set to split before the market opens on Wednesday, November 15th. The 3-1 split was announced on Wednesday, October 18th. The newly created shares will be payable to shareholders after the market closes on Tuesday, November 14th.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, October 17th. The construction company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.08. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $984.99 million. Universal Forest Products had a return on equity of 12.05% and a net margin of 2.85%. Universal Forest Products’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the business earned $1.36 earnings per share. analysts forecast that Universal Forest Products will post 5.61 EPS for the current year.
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In other news, EVP Robert D. Coleman sold 4,100 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $111.41, for a total value of $456,781.00. Following the completion of the sale, the executive vice president now directly owns 1,680 shares in the company, valued at $187,168.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Coleman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $110.15, for a total value of $550,750.00. Following the completion of the sale, the executive vice president now owns 1,680 shares of the company’s stock, valued at $185,052. The disclosure for this sale can be found here. Insiders sold 12,096 shares of company stock valued at $1,284,305 over the last 90 days. Company insiders own 3.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of UFPI. Riverhead Capital Management LLC increased its position in shares of Universal Forest Products by 77.6% in the second quarter. Riverhead Capital Management LLC now owns 1,598 shares of the construction company’s stock valued at $140,000 after buying an additional 698 shares in the last quarter. Flinton Capital Management LLC boosted its stake in shares of Universal Forest Products by 68.6% in the second quarter. Flinton Capital Management LLC now owns 1,652 shares of the construction company’s stock worth $144,000 after acquiring an additional 672 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Universal Forest Products by 55.5% in the first quarter. SG Americas Securities LLC now owns 1,539 shares of the construction company’s stock worth $152,000 after acquiring an additional 549 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Universal Forest Products in the first quarter worth approximately $169,000. Finally, Optimum Investment Advisors acquired a new stake in shares of Universal Forest Products in the second quarter worth approximately $210,000. Institutional investors and hedge funds own 78.65% of the company’s stock.
Universal Forest Products Company Profile
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.
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