UFP Technologies (NASDAQ:UFPT) Shares Down 4.8% - Here's Why

Key Points

• UFP Technologies' stock price fell by 4.8%, trading at $192.01 after a previous close of $201.60, with trading volume down 55% compared to its average.
• Analysts from Lake Street Capital raised their target price for the company from $252.00 to $289.00, maintaining a "buy" rating, indicating a positive outlook despite recent price declines.
• The company reported strong quarterly earnings with $2.50 earnings per share, surpassing estimates, along with a 37.2% increase in revenue year-over-year.

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) shares traded down 4.8% on Friday . The stock traded as low as $194.67 and last traded at $192.01. 59,243 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 132,506 shares. The stock had previously closed at $201.60.

Analyst Ratings Changes

Separately, Lake Street Capital lifted their target price on shares of UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, UFP Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $289.00.

UFP Technologies Trading Up 1.5%

The stock's fifty day moving average price is $217.80 and its two-hundred day moving average price is $222.10. The company has a current ratio of 2.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.51 billion, a P/E ratio of 19.63 and a beta of 1.20.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The industrial products company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.25. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The company had revenue of $151.18 million during the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the business posted $1.86 EPS. The firm's revenue was up 37.2% compared to the same quarter last year.

Institutional Investors Weigh In On UFP Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UFPT. American Century Companies Inc. raised its holdings in UFP Technologies by 1,858.2% during the 1st quarter. American Century Companies Inc. now owns 287,588 shares of the industrial products company's stock valued at $58,010,000 after buying an additional 272,902 shares during the last quarter. Boston Trust Walden Corp raised its holdings in UFP Technologies by 98.4% during the 1st quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock valued at $43,196,000 after buying an additional 106,197 shares during the last quarter. Ashford Capital Management Inc. purchased a new position in UFP Technologies during the 2nd quarter valued at $17,284,000. Royal Bank of Canada increased its position in UFP Technologies by 508.8% during the 4th quarter. Royal Bank of Canada now owns 69,145 shares of the industrial products company's stock valued at $16,907,000 after purchasing an additional 57,787 shares during the period. Finally, Swedbank AB increased its position in UFP Technologies by 68.8% during the 1st quarter. Swedbank AB now owns 135,000 shares of the industrial products company's stock valued at $27,231,000 after purchasing an additional 55,000 shares during the period. 87.28% of the stock is currently owned by institutional investors.

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.