UFP Industries (NASDAQ:UFPI) Lowered to Hold Rating by StockNews.com

UFP Industries (NASDAQ:UFPI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Benchmark lifted their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Stock Up 4.5 %

UFPI traded up $5.95 during midday trading on Monday, hitting $139.02. The company had a trading volume of 368,182 shares, compared to its average volume of 279,416. UFP Industries has a 52 week low of $107.49 and a 52 week high of $141.33. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 19.12 and a beta of 1.39. The stock’s 50 day moving average price is $131.16 and its 200 day moving average price is $122.63.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $2.10 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts anticipate that UFP Industries will post 6.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the transaction, the chief executive officer now directly owns 314,450 shares in the company, valued at $41,202,383.50. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC raised its position in shares of UFP Industries by 6.6% in the third quarter. Sanctuary Advisors LLC now owns 10,897 shares of the construction company’s stock valued at $1,450,000 after purchasing an additional 674 shares during the period. Geode Capital Management LLC raised its position in shares of UFP Industries by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock valued at $200,553,000 after purchasing an additional 14,857 shares during the period. Vestcor Inc raised its position in shares of UFP Industries by 2.4% in the third quarter. Vestcor Inc now owns 11,096 shares of the construction company’s stock valued at $1,456,000 after purchasing an additional 261 shares during the period. M&T Bank Corp raised its position in shares of UFP Industries by 17.3% in the third quarter. M&T Bank Corp now owns 3,029 shares of the construction company’s stock valued at $397,000 after purchasing an additional 446 shares during the period. Finally, Barclays PLC raised its position in shares of UFP Industries by 109.0% in the third quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock valued at $17,844,000 after purchasing an additional 70,927 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.