UFP Technologies (NASDAQ:UFPT) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of UFP Technologies (NASDAQ:UFPT) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded UFP Technologies from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $289.00.

UFP Technologies Price Performance

Shares of NASDAQ:UFPT opened at $224.19 on Tuesday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 25.98 and a beta of 1.10. The firm has a fifty day moving average price of $213.38 and a 200 day moving average price of $219.75. UFP Technologies has a fifty-two week low of $178.26 and a fifty-two week high of $289.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.41.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Thursday, November 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter. UFP Technologies had a net margin of 11.23% and a return on equity of 20.45%. The company had revenue of $96.97 million for the quarter.

Insider Transactions at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,829 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $227.20, for a total value of $415,548.80. Following the completion of the sale, the senior vice president directly owned 10,756 shares of the company’s stock, valued at $2,443,763.20. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of UFP Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of UFPT. Allspring Global Investments Holdings LLC grew its holdings in UFP Technologies by 469.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 103,663 shares of the industrial products company’s stock valued at $20,687,000 after purchasing an additional 85,457 shares during the last quarter. Geneva Capital Management LLC boosted its position in shares of UFP Technologies by 88.6% during the third quarter. Geneva Capital Management LLC now owns 158,496 shares of the industrial products company’s stock valued at $31,636,000 after buying an additional 74,461 shares during the period. Ashford Capital Management Inc. bought a new position in shares of UFP Technologies during the second quarter valued at approximately $17,284,000. Swedbank AB raised its holdings in shares of UFP Technologies by 68.8% in the first quarter. Swedbank AB now owns 135,000 shares of the industrial products company’s stock worth $27,231,000 after buying an additional 55,000 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of UFP Technologies by 123.1% during the 1st quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock worth $18,915,000 after acquiring an additional 51,741 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Company Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.