Unique Fabricating (UFAB) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Unique Fabricating (NYSEAMERICAN:UFAB) from a buy rating to a hold rating in a research report released on Saturday morning.
According to Zacks, “Unique Fabricating, Inc. is a supplier of components in the automotive and industrial appliance market. The Company’s solutions comprised of multi-material foam, rubber and plastic components for noise, vibration and harshness management, acoustical management, water and air sealing, decorative and other functional applications. Its processes include die cutting, thermoforming, compression molding, fusion molding and assembly. The company operates primarily in Auburn Hills, Michigan, LaFayette, Georgia and Monterrey, Mexico. Unique Fabricating, Inc. is headquartered in Auburn Hills, Michigan. “
UFAB has been the subject of a number of other research reports. Taglich Brothers restated a speculative buy rating on shares of Unique Fabricating in a research note on Wednesday, September 12th. B. Riley dropped their price target on shares of Unique Fabricating from $11.25 to $9.00 and set a buy rating for the company in a research note on Tuesday, November 13th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $8.88.
Unique Fabricating (NYSEAMERICAN:UFAB) last issued its quarterly earnings results on Friday, November 9th. The auto parts company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $42.05 million for the quarter, compared to analyst estimates of $44.27 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 9.19%. The ex-dividend date of this dividend is Thursday, November 29th.
A number of institutional investors have recently added to or reduced their stakes in UFAB. LSV Asset Management boosted its holdings in shares of Unique Fabricating by 58.9% during the third quarter. LSV Asset Management now owns 25,900 shares of the auto parts company’s stock valued at $209,000 after acquiring an additional 9,600 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Unique Fabricating by 29.6% during the third quarter. North Star Investment Management Corp. now owns 116,539 shares of the auto parts company’s stock valued at $944,000 after acquiring an additional 26,639 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Unique Fabricating by 274.6% during the second quarter. Renaissance Technologies LLC now owns 79,800 shares of the auto parts company’s stock valued at $697,000 after acquiring an additional 58,500 shares during the period. BlackRock Inc. boosted its holdings in shares of Unique Fabricating by 65.1% during the second quarter. BlackRock Inc. now owns 21,520 shares of the auto parts company’s stock valued at $188,000 after acquiring an additional 8,489 shares during the period. Finally, Bailard Inc. acquired a new position in shares of Unique Fabricating during the second quarter valued at $313,000.
About Unique Fabricating
Unique Fabricating, Inc engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration, harshness, acoustical management, water and air sealing, decorative, and other functional applications. It offers die cut products, such as trim insulation, headliner insulation, fender acoustical pad, A/B/C pillar cover, dashboard seal, cup holder base, and under hood insulation products, as well as heating, ventilation, and air conditioning (HVAC) seals; thermoformed and compression molded products, including HVAC air ducts, door water shields, evaporator liners, console bin mats and fender insulators, and others; and fusion molded products comprising interior mirror, body-in-white, cowl to hood, and cowl to fender seals.
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