Zacks: Universal Forest Products Inc. (UFPI) Given $105.00 Consensus Price Target by Analysts
Universal Forest Products Inc. (NASDAQ:UFPI) has been given a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokers have set a twelve-month consensus price objective of $105.00 for the company and are expecting that the company will post $1.46 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Universal Forest Products an industry rank of 112 out of 265 based on the ratings given to its competitors.
A number of research firms recently issued reports on UFPI. Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $121.00 price objective for the company in a report on Tuesday, July 26th. DA Davidson upgraded Universal Forest Products from an “underperform” rating to a “neutral” rating in a report on Friday, July 22nd.
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Shares of Universal Forest Products (NASDAQ:UFPI) traded down 1.22% during midday trading on Thursday, hitting $98.74. The stock had a trading volume of 19,178 shares. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 20.66 and a beta of 1.54. The stock’s 50 day moving average price is $102.83 and its 200 day moving average price is $94.26. Universal Forest Products has a 12 month low of $59.66 and a 12 month high of $110.97.
Universal Forest Products (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.16. Universal Forest Products had a return on equity of 12.38% and a net margin of 3.27%. The company earned $872.10 million during the quarter, compared to analysts’ expectations of $903.33 million. During the same quarter in the previous year, the business earned $1.28 EPS. Universal Forest Products’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Universal Forest Products will post $4.84 EPS for the current fiscal year.
In other Universal Forest Products news, VP Charles Scott Greene sold 4,639 shares of Universal Forest Products stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $109.99, for a total transaction of $510,243.61. Following the completion of the sale, the vice president now directly owns 9,298 shares of the company’s stock, valued at approximately $1,022,687.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert D. Coleman sold 7,500 shares of Universal Forest Products stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $108.53, for a total value of $813,975.00. Following the sale, the executive vice president now directly owns 1,680 shares of the company’s stock, valued at $182,330.40. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Hancock Holding Co. purchased a new stake in shares of Universal Forest Products during the first quarter worth $954,000. Geode Capital Management LLC raised its position in Universal Forest Products by 6.5% in the first quarter. Geode Capital Management LLC now owns 152,819 shares of the company’s stock valued at $13,114,000 after buying an additional 9,346 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Universal Forest Products by 12.8% in the first quarter. Goldman Sachs Group Inc. now owns 70,460 shares of the company’s stock valued at $6,047,000 after buying an additional 8,000 shares during the last quarter. State Street Corp raised its position in Universal Forest Products by 1.9% in the first quarter. State Street Corp now owns 431,715 shares of the company’s stock valued at $37,046,000 after buying an additional 7,879 shares during the last quarter. Finally, Cupps Capital Management LLC bought a new position in Universal Forest Products during the first quarter valued at approximately $2,068,000. 82.42% of the stock is owned by institutional investors and hedge funds.
About Universal Forest Products
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets: retail, construction and industrial. Its industrial market serves as industrial manufacturers and other customers for packaging, material handling and other applications.
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