Universal Forest Products Inc. (NASDAQ:UFPI) Receives Consensus Rating of “Hold” from Analysts
Shares of Universal Forest Products Inc. (NASDAQ:UFPI) have been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation. Universal Forest Products’ rating score has improved by 18.3% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 12 month consensus price objective of $105.00 for the company and are forecasting that the company will post $1.46 earnings per share for the current quarter, according to Zacks. Zacks has also given Universal Forest Products an industry rank of 13 out of 265 based on the ratings given to related companies.
Several research firms have recently issued reports on UFPI. DA Davidson upgraded shares of Universal Forest Products from an “underperform” rating to a “neutral” rating in a research note on Friday, July 22nd. Zacks Investment Research lowered shares of Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Monday, July 18th.
Universal Forest Products (NASDAQ:UFPI) traded down 1.57% on Friday, reaching $102.83. 50,806 shares of the company were exchanged. The stock has a market capitalization of $2.09 billion, a P/E ratio of 21.51 and a beta of 1.66. The company’s 50-day moving average price is $105.71 and its 200-day moving average price is $92.28. Universal Forest Products has a 12-month low of $57.11 and a 12-month high of $110.97.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.16. The business earned $872.10 million during the quarter, compared to analyst estimates of $903.33 million. Universal Forest Products had a net margin of 3.27% and a return on equity of 12.38%. Universal Forest Products’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.28 EPS. Equities research analysts anticipate that Universal Forest Products will post $4.84 earnings per share for the current fiscal year.
In related news, CEO Matthew J. Missad sold 400 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $102.75, for a total transaction of $41,100.00. Following the completion of the transaction, the chief executive officer now owns 55,559 shares in the company, valued at $5,708,687.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Charles Scott Greene sold 4,639 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $109.99, for a total transaction of $510,243.61. Following the transaction, the vice president now owns 9,298 shares of the company’s stock, valued at approximately $1,022,687.02. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of UFPI. Norges Bank bought a new position in Universal Forest Products during the fourth quarter valued at $12,001,000. Fisher Asset Management LLC raised its position in Universal Forest Products by 4.5% in the first quarter. Fisher Asset Management LLC now owns 187,615 shares of the company’s stock valued at $16,045,000 after buying an additional 8,015 shares during the last quarter. Aperio Group LLC raised its position in Universal Forest Products by 26.0% in the first quarter. Aperio Group LLC now owns 6,200 shares of the company’s stock valued at $532,000 after buying an additional 1,278 shares during the last quarter. CIBC World Markets Inc. bought a new position in Universal Forest Products during the first quarter valued at $1,253,000. Finally, TIAA CREF Investment Management LLC raised its position in Universal Forest Products by 18.6% in the first quarter. TIAA CREF Investment Management LLC now owns 103,381 shares of the company’s stock valued at $8,872,000 after buying an additional 16,241 shares during the last quarter. Institutional investors own 82.43% of the company’s stock.
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: retail, construction and industrial. Its industrial market serves as industrial manufacturers and other customers for packaging, material handling and other applications.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Universal Forest Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Forest Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.