UFP Technologies (NASDAQ:UFPT) Issues Earnings Results

UFP Technologies (NASDAQ:UFPT - Get Free Report) issued its quarterly earnings data on Tuesday. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.42, Zacks reports. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The business had revenue of $148.15 million during the quarter, compared to analysts' expectations of $139.93 million.

UFP Technologies Price Performance

Shares of UFPT stock traded up $2.57 during trading hours on Friday, reaching $236.48. The company's stock had a trading volume of 94,578 shares, compared to its average volume of 83,327. UFP Technologies has a fifty-two week low of $178.26 and a fifty-two week high of $366.41. The firm's 50 day simple moving average is $208.81 and its 200-day simple moving average is $250.71. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 33.73 and a beta of 1.10.

Insider Buying and Selling

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the sale, the director now owns 1,785 shares of the company's stock, valued at approximately $407,711.85. The trade was a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UFPT. Raymond James assumed coverage on UFP Technologies in a research note on Friday, March 28th. They set a "market perform" rating on the stock. Lake Street Capital set a $252.00 price target on UFP Technologies and gave the stock a "buy" rating in a research report on Wednesday. Finally, StockNews.com downgraded shares of UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.