DA Davidson Cuts UFP Industries (NASDAQ:UFPI) Price Target to $105.00

Key Points

• DA Davidson cut its price target on UFP Industries to $105 from $110 while maintaining a "buy" rating, implying roughly 23% upside from the current stock price.
• UFP's latest quarter missed expectations—EPS $0.89 vs. $1.15 expected and revenue $1.46B vs. $1.51B—driving the stock down about 4.8% to $85.18.
• Analysts are mixed: the consensus rating is Hold with a $107.60 consensus target, reflecting two Buys, four Holds and one Sell among covering firms.

UFP Industries (NASDAQ:UFPI - Get Free Report) had its price target cut by research analysts at DA Davidson from $110.00 to $105.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. DA Davidson's price objective would suggest a potential upside of 23.27% from the company's current price.

Other research analysts also recently issued reports about the company. Zacks Research downgraded UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 17th. Weiss Ratings restated a "hold (c-)" rating on shares of UFP Industries in a report on Tuesday, January 27th. BMO Capital Markets reiterated a "market perform" rating and issued a $108.00 target price (down from $112.00) on shares of UFP Industries in a research note on Monday, April 20th. Finally, Benchmark reduced their target price on UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $107.60.

UFP Industries Trading Down 4.8%

NASDAQ:UFPI traded down $4.31 on Friday, reaching $85.18. The stock had a trading volume of 697,491 shares, compared to its average volume of 385,207. UFP Industries has a 12-month low of $84.82 and a 12-month high of $118.00. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 18.60 and a beta of 1.44. The firm's fifty day moving average is $94.61 and its two-hundred day moving average is $96.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.59 and a quick ratio of 3.13.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.26). The firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.51 billion. UFP Industries had a return on equity of 8.46% and a net margin of 4.31%.The business's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. Equities analysts expect that UFP Industries will post 5.19 EPS for the current fiscal year.

Institutional Trading of UFP Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC boosted its holdings in UFP Industries by 822.7% in the 3rd quarter. AlphaQuest LLC now owns 8,480 shares of the construction company's stock worth $793,000 after acquiring an additional 7,561 shares during the period. New York State Common Retirement Fund raised its stake in shares of UFP Industries by 117.5% during the third quarter. New York State Common Retirement Fund now owns 86,589 shares of the construction company's stock valued at $8,095,000 after purchasing an additional 46,775 shares during the period. Numerai GP LLC acquired a new position in shares of UFP Industries during the third quarter worth $3,562,000. Allspring Global Investments Holdings LLC lifted its position in shares of UFP Industries by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company's stock worth $114,980,000 after purchasing an additional 23,905 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of UFP Industries by 337.9% in the third quarter. State of Wyoming now owns 10,434 shares of the construction company's stock valued at $975,000 after purchasing an additional 8,051 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.

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