Stifel Nicolaus Has Lowered Expectations for UFP Industries (NASDAQ:UFPI) Stock Price

Key Points

• Stifel Nicolaus lowered its price target on UFP Industries from $100 to $87 and kept a Hold rating, implying only about 4% upside from the current share price.
• Other analysts have been mixed: DA Davidson and Benchmark cut targets but kept Buy ratings, while BMO Capital Markets upgraded the stock to Outperform; the overall consensus remains Hold with a $105.40 target.
• UFP Industries recently reported weak quarterly results, with EPS of $0.89 versus $1.15 expected and revenue of $1.46 billion versus $1.51 billion expected, while the stock traded around $83.65 near its 12-month low.

UFP Industries (NASDAQ:UFPI - Get Free Report) had its target price lowered by research analysts at Stifel Nicolaus from $100.00 to $87.00 in a report released on Monday, Marketbeat Ratings reports. The firm currently has a "hold" rating on the construction company's stock. Stifel Nicolaus' target price points to a potential upside of 4.00% from the company's current price.

UFPI has been the topic of several other reports. DA Davidson decreased their price target on shares of UFP Industries from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. BMO Capital Markets raised shares of UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 price objective for the company in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of UFP Industries in a report on Tuesday, January 27th. Benchmark reduced their price target on UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Finally, Zacks Research cut UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, UFP Industries has an average rating of "Hold" and a consensus price target of $105.40.

UFP Industries Price Performance

UFPI stock traded down $0.73 during mid-day trading on Monday, hitting $83.65. 28,417 shares of the stock were exchanged, compared to its average volume of 396,208. The business has a fifty day moving average price of $93.13 and a 200 day moving average price of $96.17. UFP Industries has a 12 month low of $80.06 and a 12 month high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 18.26 and a beta of 1.29.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.26). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. UFP Industries's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. On average, sell-side analysts anticipate that UFP Industries will post 4.8 EPS for the current year.

Hedge Funds Weigh In On UFP Industries

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in UFP Industries by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,117,218 shares of the construction company's stock valued at $556,973,000 after purchasing an additional 17,016 shares during the period. Wasatch Advisors LP boosted its stake in shares of UFP Industries by 32.9% during the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company's stock valued at $187,732,000 after purchasing an additional 504,609 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of UFP Industries by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,909,315 shares of the construction company's stock valued at $173,847,000 after buying an additional 44,736 shares during the period. Boston Partners raised its stake in UFP Industries by 2.2% in the third quarter. Boston Partners now owns 1,887,460 shares of the construction company's stock worth $176,449,000 after buying an additional 39,957 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in UFP Industries by 2.0% in 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 buying an additional 23,905 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

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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