Universal Forest Products, Inc. (UFPI) Given Consensus Recommendation of “Strong Buy” by Analysts
Universal Forest Products, Inc. (NASDAQ:UFPI) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus price objective of $123.00 for the company and are expecting that the company will post $1.43 earnings per share for the current quarter, according to Zacks. Zacks has also given Universal Forest Products an industry rank of 33 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently issued reports on UFPI shares. Zacks Investment Research raised Universal Forest Products from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Monday, June 5th. Sidoti started coverage on Universal Forest Products in a research note on Tuesday, July 25th. They set a “buy” rating for the company. BidaskClub raised Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Finally, ValuEngine lowered Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
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Universal Forest Products (UFPI) traded up 1.61% during trading on Tuesday, hitting $91.14. The stock had a trading volume of 161,060 shares. Universal Forest Products has a 12 month low of $77.80 and a 12 month high of $108.79. The stock has a 50 day moving average price of $84.31 and a 200-day moving average price of $89.70. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 18.08 and a beta of 1.84.
Universal Forest Products (NASDAQ:UFPI) last issued 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). Universal Forest Products had a return on equity of 11.73% and a net margin of 2.86%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted $1.64 earnings per share. Universal Forest Products’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts predict that Universal Forest Products will post $5.60 EPS for the current year.
In other Universal Forest Products news, insider Patrick M. Webster sold 996 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $88.93, for a total transaction of $88,574.28. Following the transaction, the insider now directly owns 58,919 shares in the company, valued at approximately $5,239,666.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick M. Webster sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $88.80, for a total value of $133,200.00. Following the transaction, the insider now owns 59,915 shares in the company, valued at $5,320,452. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its holdings in Universal Forest Products by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,090 shares of the construction company’s stock worth $444,000 after purchasing an additional 14 shares during the period. Renaissance Group LLC increased its holdings in Universal Forest Products by 0.8% during the 2nd quarter. Renaissance Group LLC now owns 3,386 shares of the construction company’s stock worth $296,000 after purchasing an additional 28 shares during the period. Suntrust Banks Inc. increased its holdings in Universal Forest Products by 1.1% during the 1st quarter. Suntrust Banks Inc. now owns 3,373 shares of the construction company’s stock worth $331,000 after purchasing an additional 37 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in Universal Forest Products by 1.0% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 6,950 shares of the construction company’s stock worth $685,000 after purchasing an additional 70 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Universal Forest Products by 0.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,380 shares of the construction company’s stock worth $1,430,000 after purchasing an additional 100 shares during the period. Institutional investors own 80.27% 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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