Universal Forest Products (UFPI) Rating Increased to Hold at BidaskClub

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.



Universal Forest Products (NASDAQ:UFPI) last announced its earnings results on Thursday, February 22nd. The construction company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The firm had revenue of $966.09 million during the quarter, compared to analyst estimates of $970.05 million. Universal Forest Products had a net margin of 3.03% and a return on equity of 12.10%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. research analysts forecast that Universal Forest Products will post 2.35 earnings per share for the current fiscal year.

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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