UFP Technologies (NASDAQ:UFPT) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, "UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. "
Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of UFP Technologies from a "sell" rating to a "hold" rating in a research note on Monday, March 30th. BidaskClub upgraded shares of UFP Technologies from a "sell" rating to a "hold" rating in a research note on Wednesday.
NASDAQ:UFPT traded up $1.96 during trading hours on Wednesday, reaching $48.39. 2,604 shares of the company's stock were exchanged, compared to its average volume of 39,489. The firm has a market capitalization of $331.94 million, a price-to-earnings ratio of 18.19 and a beta of 0.80. The company has a 50-day moving average of $44.38 and a 200 day moving average of $44.58. The company has a quick ratio of 2.26, a current ratio of 3.42 and a debt-to-equity ratio of 0.01. UFP Technologies has a 1-year low of $30.80 and a 1-year high of $52.59.
UFP Technologies (NASDAQ:UFPT) last released its earnings results on Tuesday, May 5th. The industrial products company reported $0.52 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.54 by ($0.02). UFP Technologies had a return on equity of 12.56% and a net margin of 9.99%. The firm had revenue of $48.28 million during the quarter, compared to analyst estimates of $49.00 million. Research analysts forecast that UFP Technologies will post 1.52 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its holdings in shares of UFP Technologies by 18.0% in the 4th quarter. Citigroup Inc. now owns 1,431 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 218 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of UFP Technologies by 34.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,092 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 536 shares in the last quarter. IndexIQ Advisors LLC purchased a new position in shares of UFP Technologies in the 1st quarter valued at about $193,000. Alliancebernstein L.P. purchased a new position in shares of UFP Technologies in the 4th quarter valued at about $203,000. Finally, Sawgrass Asset Management LLC increased its holdings in shares of UFP Technologies by 39.6% in the 1st quarter. Sawgrass Asset Management LLC now owns 5,935 shares of the industrial products company's stock valued at $226,000 after purchasing an additional 1,685 shares in the last quarter. Institutional investors and hedge funds own 77.75% of the company's stock.
UFP Technologies Company Profile
UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.
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