BidaskClub upgraded shares of Universal Forest Products (NASDAQ:UFPI) from a sell rating to a hold rating in a research report report published on Tuesday morning.
UFPI has been the subject of several other reports. BMO Capital Markets reaffirmed a hold rating and set a $37.00 price objective on shares of Universal Forest Products in a research note on Monday, April 2nd. Zacks Investment Research raised Universal Forest Products from a hold rating to a buy rating and set a $40.00 price objective for the company in a research note on Wednesday, February 28th. Finally, ValuEngine downgraded Universal Forest Products from a hold rating to a sell rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Universal Forest Products presently has a consensus rating of Hold and an average price target of $38.50.
Shares of NASDAQ UFPI opened at $33.02 on Tuesday. The stock has a market capitalization of $2,003.80, a P/E ratio of 17.95, a PEG ratio of 2.79 and a beta of 1.83. The company has a quick ratio of 1.33, a current ratio of 2.85 and a debt-to-equity ratio of 0.15. Universal Forest Products has a 52-week low of $25.93 and a 52-week high of $39.58.
In other Universal Forest Products news, insider Allen T. Peters sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $33.50, for a total transaction of $50,250.00. Following the completion of the sale, the insider now directly owns 91,830 shares of the company’s stock, valued at approximately $3,076,305. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary E. Tuuk acquired 10,000 shares of Universal Forest Products stock in a transaction on Tuesday, March 13th. The shares were bought at an average cost of $33.90 per share, with a total value of $339,000.00. Following the completion of the purchase, the director now owns 8,277 shares in the company, valued at $280,590.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 18,790 shares of company stock valued at $631,369. 3.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of UFPI. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Universal Forest Products by 370.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,942 shares of the construction company’s stock valued at $111,000 after acquiring an additional 2,316 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Universal Forest Products by 393.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,195 shares of the construction company’s stock valued at $117,000 after acquiring an additional 953 shares during the last quarter. Delta Asset Management LLC TN raised its stake in Universal Forest Products by 200.0% during the 4th quarter. Delta Asset Management LLC TN now owns 4,758 shares of the construction company’s stock valued at $179,000 after acquiring an additional 3,172 shares during the last quarter. Synovus Financial Corp purchased a new stake in Universal Forest Products during the 4th quarter valued at approximately $207,000. Finally, Elkfork Partners LLC purchased a new position in shares of Universal Forest Products during the 4th quarter worth approximately $209,000. 80.71% of the stock is owned by hedge funds and other institutional investors.
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Universal Forest Products Company Profile
Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood composite decking, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.
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