Universal Forest Products (UFPI) Stock Rating Lowered by BidaskClub
Universal Forest Products (NASDAQ:UFPI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
UFPI has been the topic of a number of other research reports. Zacks Investment Research raised Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $41.67 price objective on the stock in a report on Monday, October 23rd. BMO Capital Markets began coverage on Universal Forest Products in a report on Tuesday, October 17th. They set a “market perform” rating and a $36.67 price objective on the stock. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Universal Forest Products currently has an average rating of “Buy” and an average target price of $39.17.
Shares of Universal Forest Products (UFPI) opened at $37.46 on Tuesday. The stock has a market capitalization of $2,328.29, a PE ratio of 21.42, a P/E/G ratio of 2.04 and a beta of 1.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 2.62. Universal Forest Products has a 1-year low of $25.93 and a 1-year high of $39.58.
Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, October 17th. The construction company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $984.99 million. Universal Forest Products had a return on equity of 14.42% and a net margin of 3.28%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. analysts expect that Universal Forest Products will post 1.87 earnings per share for the current fiscal year.
In other Universal Forest Products news, VP Charles Scott Greene sold 3,000 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $38.05, for a total value of $114,150.00. Following the transaction, the vice president now directly owns 9,894 shares in the company, valued at approximately $376,466.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael R. Cole sold 500 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $110.00, for a total value of $55,000.00. Following the completion of the transaction, the chief financial officer now owns 27,789 shares in the company, valued at $3,056,790. The disclosure for this sale can be found here. Insiders have sold a total of 16,596 shares of company stock worth $1,382,405 in the last three months. 3.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. increased its stake in Universal Forest Products by 393.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,195 shares of the construction company’s stock worth $117,000 after acquiring an additional 953 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Universal Forest Products by 77.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,598 shares of the construction company’s stock worth $140,000 after acquiring an additional 698 shares during the last quarter. Flinton Capital Management LLC increased its stake in Universal Forest Products by 68.6% in the 2nd quarter. Flinton Capital Management LLC now owns 1,652 shares of the construction company’s stock worth $144,000 after acquiring an additional 672 shares during the last quarter. Optimum Investment Advisors bought a new position in Universal Forest Products in the 2nd quarter worth about $210,000. Finally, Verity Asset Management Inc. bought a new position in Universal Forest Products in the 3rd quarter worth about $219,000. Institutional investors and hedge funds own 26.71% of the company’s stock.
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Universal Forest Products Company Profile
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.
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