Equities research analysts at Sidoti initiated coverage on shares of Universal Forest Products, Inc. (NASDAQ:UFPI) in a research report issued on Tuesday, The Fly reports. The brokerage set a “buy” rating on the construction company’s stock.

Other analysts also recently issued research reports about the company. ValuEngine upgraded Universal Forest Products from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. 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 report on Monday, June 5th. Finally, BidaskClub upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Universal Forest Products presently has an average rating of “Hold” and an average price target of $105.50.

Shares of Universal Forest Products (UFPI) traded up 5.17% during midday trading on Tuesday, hitting $86.81. The stock had a trading volume of 300,658 shares. Universal Forest Products has a 12-month low of $82.25 and a 12-month high of $110.97. The firm has a 50-day moving average of $87.34 and a 200 day moving average of $94.56. The firm has a market cap of $1.78 billion, a PE ratio of 17.23 and a beta of 1.89.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 18th. The construction company reported $1.64 EPS for the quarter, missing the Zacks’ consensus estimate of $1.85 by $0.21. Universal Forest Products had a return on equity of 11.73% and a net margin of 2.86%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted $1.64 EPS. Universal Forest Products’s revenue was up 23.0% compared to the same quarter last year. On average, analysts expect that Universal Forest Products will post $5.24 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in 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 period. Vanguard Group Inc. increased its position in 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 period. Principal Financial Group Inc. increased its position in 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 period. Copper Rock Capital Partners LLC increased its position in 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 period. Finally, Norges Bank bought a new position in Universal Forest Products during the fourth quarter valued at approximately $26,365,000. Institutional investors and hedge funds own 80.79% 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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