Universal Forest Products, Inc. (NASDAQ:UFPI) – Analysts at DA Davidson dropped their Q4 2017 earnings estimates for Universal Forest Products in a report issued on Wednesday. DA Davidson analyst S. Chercover now expects that the construction company will post earnings of $1.13 per share for the quarter, down from their previous forecast of $1.24.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, July 18th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.85 by $0.21. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. Universal Forest Products had a net margin of 2.86% and a return on equity of 11.73%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share.

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A number of other equities research analysts have also weighed in on the company. BidaskClub upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. ValuEngine upgraded Universal Forest Products from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Finally, Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Monday, June 5th.

Shares of Universal Forest Products (NASDAQ:UFPI) traded down 1.83% during trading on Friday, reaching $84.97. The company had a trading volume of 56,162 shares. The company has a market capitalization of $1.74 billion, a P/E ratio of 16.87 and a beta of 1.89. Universal Forest Products has a 52-week low of $83.24 and a 52-week high of $110.97. The firm has a 50-day moving average price of $87.67 and a 200-day moving average price of $94.91.

Several hedge funds and other institutional investors have recently modified their holdings of UFPI. BlackRock Inc. raised its position in shares of Universal Forest Products by 24,097.2% in the first quarter. BlackRock Inc. now owns 3,185,077 shares of the construction company’s stock valued at $313,858,000 after buying an additional 3,171,914 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Universal Forest Products by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,772,923 shares of the construction company’s stock valued at $174,704,000 after buying an additional 18,197 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Universal Forest Products by 27.2% in the first quarter. Principal Financial Group Inc. now owns 414,770 shares of the construction company’s stock valued at $40,871,000 after buying an additional 88,604 shares during the last quarter. Copper Rock Capital Partners LLC raised its position in shares of Universal Forest Products by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 266,173 shares of the construction company’s stock valued at $26,082,000 after buying an additional 4,496 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Universal Forest Products during the fourth quarter valued at approximately $26,365,000. Institutional investors own 81.34% of the company’s stock.

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, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.

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