Universal Forest Products Inc. (NASDAQ:UFPI)’s share price shot up 6.4% during trading on Friday . The company traded as high as $105.99 and last traded at $105.87, with a volume of 177,142 shares trading hands. The stock had previously closed at $99.52.

A number of brokerages have commented on UFPI. DA Davidson upgraded Universal Forest Products from an “underperform” rating to a “neutral” rating in a research note on Friday. Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research note on Monday, April 25th. Finally, Sidoti started coverage on Universal Forest Products in a report on Thursday, April 14th. They set a “neutral” rating on the stock.

The firm’s 50 day moving average price is $92.06 and its 200-day moving average price is $80.24. The firm has a market cap of $2.15 billion and a P/E ratio of 22.003.

Universal Forest Products (NASDAQ:UFPI) last released its earnings results on Wednesday, July 20th. The company reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.16. The firm had revenue of $872.10 million for the quarter, compared to analyst estimates of $903.33 million. During the same period in the prior year, the firm earned $1.28 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that Universal Forest Products Inc. will post $4.61 EPS for the current year.

Other hedge funds and institutional investors recently made changes to their positions in the company. Russell Frank Co raised its position in shares of Universal Forest Products by 189.1% in the fourth quarter. Russell Frank Co now owns 93,615 shares of the company’s stock worth $6,404,000 after buying an additional 61,239 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Universal Forest Products by 1.0% in the fourth quarter. Nationwide Fund Advisors now owns 15,848 shares of the company’s stock worth $1,084,000 after buying an additional 155 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Universal Forest Products by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 37,319 shares of the company’s stock worth $2,552,000 after buying an additional 600 shares in the last quarter. Rhumbline Advisers raised its position in shares of Universal Forest Products by 3.5% in the fourth quarter. Rhumbline Advisers now owns 39,410 shares of the company’s stock worth $2,694,000 after buying an additional 1,350 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Universal Forest Products by 42.4% in the fourth quarter. California Public Employees Retirement System now owns 32,600 shares of the company’s stock worth $2,229,000 after buying an additional 9,700 shares in the last quarter.

Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets: retail, construction and industrial. Its industrial market serves as industrial manufacturers and other customers for packaging, material handling and other applications.

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