Universal Forest Products Inc. (NASDAQ:UFPI)’s share price shot up 6.4% during trading on Friday . The stock 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.

Several research firms have commented on UFPI. Zacks Investment Research downgraded shares of Universal Forest Products from a “buy” rating to a “hold” rating in a report on Monday, July 18th. DA Davidson upgraded shares of Universal Forest Products from an “underperform” rating to a “neutral” rating in a report on Friday. Finally, Sidoti began coverage on shares of Universal Forest Products in a report on Thursday, April 14th. They issued a “neutral” rating on the stock.

The stock’s 50 day moving average price is $92.65 and its 200 day moving average price is $80.52. The firm has a market capitalization of $2.14 billion and a P/E ratio of 21.93.

Universal Forest Products (NASDAQ:UFPI) last issued its earnings results on Wednesday, July 20th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.16. The firm earned $872.10 million during the quarter, compared to the consensus estimate of $903.33 million. Universal Forest Products’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. Equities analysts forecast that Universal Forest Products Inc. will post $4.80 EPS for the current year.

Other institutional investors have recently modified their holdings of the company. Systematic Financial Management LP purchased a new position in shares of Universal Forest Products during the fourth quarter worth about $1,682,000. Principal Financial Group Inc. boosted its position in shares of Universal Forest Products by 27.6% in the fourth quarter. Principal Financial Group Inc. now owns 368,542 shares of the company’s stock valued at $25,197,000 after buying an additional 79,738 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Universal Forest Products by 21.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 81,027 shares of the company’s stock valued at $5,540,000 after buying an additional 14,527 shares during the period. New York State Common Retirement Fund boosted its position in shares of Universal Forest Products by 6.5% in the fourth quarter. New York State Common Retirement Fund now owns 19,600 shares of the company’s stock valued at $1,340,000 after buying an additional 1,200 shares during the period. Finally, California Public Employees Retirement System boosted 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 valued at $2,229,000 after buying an additional 9,700 shares during the period.

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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