UFP Industries (NASDAQ:UFPI) Issues Earnings Results

Key Points

• UFP Industries reported earnings of $1.70 per share for the quarter, falling short of analysts' expectations of $1.95.
• The company's stock has experienced volatility, trading at $104.27 and having a one-year high of $141.33.
• Despite the earnings miss, UFP Industries maintains a Moderate Buy rating from analysts, with an average target price of $136.80.

UFP Industries (NASDAQ:UFPI - Get Free Report) announced its earnings results on Monday. The construction company reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25), Zacks reports. UFP Industries had a return on equity of 11.78% and a net margin of 5.64%.

UFP Industries Stock Performance

NASDAQ:UFPI traded down $0.57 during mid-day trading on Monday, reaching $104.27. 368,266 shares of the company's stock were exchanged, compared to its average volume of 444,852. UFP Industries has a one year low of $93.00 and a one year high of $141.33. The firm has a market capitalization of $6.30 billion, a PE ratio of 17.07 and a beta of 1.47. The business's fifty day simple moving average is $100.36 and its two-hundred day simple moving average is $105.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.44 and a current ratio of 4.96.

Analyst Ratings Changes

Separately, Loop Capital assumed coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $136.80.

Institutional Investors Weigh In On UFP Industries

A number of hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of UFP Industries by 10.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company's stock worth $13,831,000 after purchasing an additional 12,043 shares during the period. Royal Bank of Canada increased its stake in UFP Industries by 3.0% during the 1st quarter. Royal Bank of Canada now owns 61,641 shares of the construction company's stock valued at $6,597,000 after purchasing an additional 1,798 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in UFP Industries by 8.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company's stock valued at $317,000 after purchasing an additional 221 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

About UFP Industries

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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