Universal Forest Products Inc. (NASDAQ:UFPI) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $110.50 and last traded at $109.02, with a volume of 31,236 shares changing hands. The stock had previously closed at $108.82.

UFPI has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $121.00 target price for the company in a research note on Tuesday, July 26th. DA Davidson upgraded shares of Universal Forest Products from an “underperform” rating to a “neutral” rating in a research note on Friday, July 22nd.

The stock has a market capitalization of $2.18 billion and a price-to-earnings ratio of 22.51. The stock’s 50 day moving average is $105.45 and its 200 day moving average is $87.98.

Universal Forest Products (NASDAQ:UFPI) last released its earnings results on Wednesday, July 20th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.16. During the same quarter in the previous year, the firm earned $1.28 EPS. The firm earned $872.10 million during the quarter, compared to analyst estimates of $903.33 million. Universal Forest Products’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts predict that Universal Forest Products Inc. will post $4.85 earnings per share for the current fiscal year.

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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