UFP Industries (NASDAQ:UFPI) Coverage Initiated by Analysts at Oppenheimer

Stock analysts at Oppenheimer started coverage on shares of UFP Industries (NASDAQ:UFPI) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “market perform” rating on the construction company’s stock.

Several other research analysts also recently issued reports on the company. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Stifel Nicolaus set a $90.00 price target on shares of UFP Industries and gave the stock a “hold” rating in a research report on Monday, August 24th. Finally, Weiss Ratings upgraded shares of UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, UFP Industries has an average rating of “Hold” and an average price target of $104.50.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI opened at $78.77 on Wednesday. The firm has a market cap of $4.34 billion, a PE ratio of 18.07 and a beta of 1.22. UFP Industries has a one year low of $77.89 and a one year high of $118.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. The firm’s 50 day simple moving average is $85.84 and its 200-day simple moving average is $86.86.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. As a group, equities analysts predict that UFP Industries will post 4.51 EPS for the current year.

Institutional Investors Weigh In On UFP Industries

Several large investors have recently made changes to their positions in UFPI. Root Financial Partners LLC boosted its position in shares of UFP Industries by 86.0% in the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after acquiring an additional 148 shares during the period. World Investment Advisors grew its holdings in shares of UFP Industries by 5.8% during the first quarter. World Investment Advisors now owns 3,171 shares of the construction company’s stock worth $292,000 after purchasing an additional 175 shares during the last quarter. IFP Advisors Inc raised its position in UFP Industries by 84.8% during the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock worth $38,000 after purchasing an additional 190 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of UFP Industries by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 5,593 shares of the construction company’s stock valued at $515,000 after purchasing an additional 194 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in shares of UFP Industries by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 14,000 shares of the construction company’s stock valued at $1,290,000 after purchasing an additional 200 shares during the period. Institutional investors own 81.81% of the company’s stock.

About UFP Industries

UFP Industries, Inc is a manufacturer and distributor of wood, composite and other products serving the construction, industrial and retail sectors. The company operates through businesses focused on supplying materials and finished products for residential and commercial construction, outdoor living, manufactured housing, packaging and industrial applications.

Its product offerings include pressure-treated lumber, engineered wood components, decking, fencing, lawn and garden products, trusses, wood pallets, crates and other custom packaging solutions.