UFP Industries (NASDAQ:UFPI) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• UFP Industries received a "hold (c)" rating from Weiss Ratings, indicating a neutral outlook for the company's stock performance.
• Recent quarterly earnings revealed that UFP Industries missed analyst expectations, reporting $1.70 EPS versus the anticipated $1.95, with revenue down 3.5% compared to the previous year.
• Institutional investors own approximately 81.81% of UFP Industries, with several firms increasing their holdings recently, indicating strong backing from the investment community.

UFP Industries (NASDAQ:UFPI - Get Free Report)'s stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other analysts also recently issued research reports about the company. Zacks Research downgraded UFP Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. Loop Capital began coverage on UFP Industries in a report on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $134.00.

UFP Industries Price Performance

NASDAQ UFPI traded up $0.92 on Wednesday, reaching $91.35. The company had a trading volume of 477,530 shares, compared to its average volume of 381,519. The stock has a market capitalization of $5.35 billion, a PE ratio of 15.86 and a beta of 1.45. The company has a quick ratio of 3.16, a current ratio of 4.54 and a debt-to-equity ratio of 0.07. UFP Industries has a 12 month low of $90.00 and a 12 month high of $141.33. The firm's 50 day moving average price is $98.63 and its 200 day moving average price is $100.95.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The firm's revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 EPS. As a group, equities analysts predict that UFP Industries will post 7.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in shares of UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock valued at $32,000 after purchasing an additional 114 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in UFP Industries during the first quarter valued at $36,000. Caitong International Asset Management Co. Ltd lifted its position in shares of UFP Industries by 39.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock valued at $45,000 after buying an additional 119 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in UFP Industries by 90.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company's stock worth $54,000 after buying an additional 259 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in UFP Industries in the 2nd quarter valued at $59,000. Institutional investors own 81.81% of the company's stock.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.

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