UFP Industries (NASDAQ:UFPI) Coverage Initiated by Analysts at Loop Capital

Loop Capital assumed coverage on shares of UFP Industries (NASDAQ:UFPI - Free Report) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued a hold rating and a $112.00 target price on the construction company's stock.

UFP Industries Stock Performance

NASDAQ:UFPI traded up $1.08 during mid-day trading on Wednesday, hitting $104.82. The stock had a trading volume of 158,199 shares, compared to its average volume of 444,368. UFP Industries has a twelve month low of $93.00 and a twelve month high of $141.33. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 17.14 and a beta of 1.47. The company's 50 day simple moving average is $100.31 and its 200 day simple moving average is $105.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.44 and a current ratio of 4.96.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a return on equity of 11.78% and a net margin of 5.64%. UFP Industries's quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.96 EPS. On average, equities research analysts forecast that UFP Industries will post 7.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in UFPI. Putney Financial Group LLC bought a new position in shares of UFP Industries in the 4th quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in UFP Industries in the first quarter worth $36,000. Caitong International Asset Management Co. Ltd raised its position in UFP Industries by 39.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock valued at $45,000 after purchasing an additional 119 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in UFP Industries during the fourth quarter valued at approximately $61,000. Finally, UMB Bank n.a. boosted its position in UFP Industries by 182.1% during the first quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock valued at $61,000 after purchasing an additional 366 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, 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.