Zacks: Universal Forest Products, Inc. (NASDAQ:UFPI) Given Consensus Recommendation of “Strong Buy” by Analysts

Universal Forest Products, Inc. (NASDAQ:UFPI) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Analysts have set a twelve-month consensus price objective of $123.00 for the company and are forecasting that the company will post $1.85 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Universal Forest Products an industry rank of 73 out of 265 based on the ratings given to its competitors.

Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. ValuEngine cut shares of Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub raised shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th.

Shares of Universal Forest Products (NASDAQ:UFPI) traded up 0.84% on Friday, reaching $88.81. 25,894 shares of the company were exchanged. Universal Forest Products has a 12 month low of $83.24 and a 12 month high of $110.97. The stock has a market capitalization of $1.82 billion, a P/E ratio of 17.63 and a beta of 1.89. The stock has a 50 day moving average price of $88.45 and a 200-day moving average price of $96.66.

Universal Forest Products (NASDAQ:UFPI) last announced its earnings results on Tuesday, April 18th. The construction company reported $1.03 EPS for the quarter, hitting the consensus estimate of $1.03. The firm had revenue of $846.10 million for the quarter, compared to the consensus estimate of $812.57 million. Universal Forest Products had a net margin of 3.03% and a return on equity of 12.03%. The business’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. On average, equities analysts expect that Universal Forest Products will post $5.87 EPS for the current fiscal year.

The firm also recently declared a semiannual dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a dividend yield of 0.94%. Universal Forest Products’s dividend payout ratio is currently 17.82%.

Institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its position in shares of Universal Forest Products by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 28,319 shares of the construction company’s stock valued at $2,788,000 after buying an additional 1,745 shares in the last quarter. Bowling Portfolio Management LLC boosted its position in Universal Forest Products by 29.6% in the first quarter. Bowling Portfolio Management LLC now owns 8,078 shares of the construction company’s stock valued at $796,000 after buying an additional 1,847 shares in the last quarter. Wells Fargo & Company MN boosted its position in Universal Forest Products by 28.7% in the first quarter. Wells Fargo & Company MN now owns 61,746 shares of the construction company’s stock valued at $6,084,000 after buying an additional 13,760 shares in the last quarter. Hillcrest Asset Management LLC boosted its position in Universal Forest Products by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 106,967 shares of the construction company’s stock valued at $10,541,000 after buying an additional 7,867 shares in the last quarter. Finally, Sawgrass Asset Management LLC boosted its position in Universal Forest Products by 41.9% in the first quarter. Sawgrass Asset Management LLC now owns 6,295 shares of the construction company’s stock valued at $620,000 after buying an additional 1,860 shares in the last quarter. 81.43% of the stock is owned by institutional investors.

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About Universal Forest Products

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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