UFP Technologies (NASDAQ:UFPT) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded UFP Technologies to “Buy” from “Hold,” although Weiss Ratings only raised its score from “hold (c)” to “hold (c+),” leaving the stock’s overall analyst rating at “Hold.”
• UFP Technologies reported quarterly EPS of $2.92, beating estimates of $2.31, while revenue of $173.96 million exceeded the $159.38 million consensus forecast.
• The stock opened at $314.01, with a $2.43 billion market capitalization and a 52-week range of $173.86 to $338.71; institutional investors own 87.28% of outstanding shares, while two directors recently sold stock.

UFP Technologies (NASDAQ:UFPT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings raised UFP Technologies from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".

UFP Technologies Stock Performance

NASDAQ UFPT opened at $314.01 on Friday. The stock has a market cap of $2.43 billion, a PE ratio of 33.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.69 and a current ratio of 3.00. The firm has a 50-day moving average of $250.24 and a 200-day moving average of $230.32. UFP Technologies has a 52-week low of $173.86 and a 52-week high of $338.71.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.61. The business had revenue of $173.96 million for the quarter, compared to analyst estimates of $159.38 million. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. On average, sell-side analysts anticipate that UFP Technologies will post 10.54 EPS for the current year.

Insider Buying and Selling at UFP Technologies

In related news, Director Daniel C. Croteau sold 2,864 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the completion of the sale, the director owned 855 shares of the company's stock, valued at $189,562.05. This represents a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the completion of the transaction, the director directly owned 5,476 shares in the company, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC lifted its holdings in UFP Technologies by 110.0% during the 1st quarter. Rice Hall James & Associates LLC now owns 21,211 shares of the industrial products company's stock worth $4,106,000 after buying an additional 11,111 shares during the period. UBS Group AG raised its position in shares of UFP Technologies by 22.4% during the fourth quarter. UBS Group AG now owns 189,403 shares of the industrial products company's stock worth $42,053,000 after acquiring an additional 34,715 shares during the last quarter. Maridea Wealth Management LLC bought a new position in shares of UFP Technologies during the first quarter worth about $1,465,000. Isthmus Partners LLC acquired a new position in shares of UFP Technologies in the first quarter worth approximately $1,679,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in UFP Technologies in the first quarter valued at approximately $953,000. 87.28% of the stock is owned by institutional investors.

UFP Technologies Company Profile

UFP Technologies, Inc NASDAQ: UFPT is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.

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