Universal Forest Products, Inc. (NASDAQ:UFPI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The firm currently has a $125.00 target price on the construction company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.83% from the stock’s previous close.

According to Zacks, “In the last three months, shares of Universal Forest Products have outperformed the industry. We believe that strengthening demand in the U.S. construction market, addition of customers, new product launches and synergistic benefits from acquired assets will bode well for the company in the long run. It posted record results in third-quarter 2017, with positive earnings and sales surprises of 14.7% and 6%, respectively. Also, the company recently announced a three-for-one stock split, to be made effective by issuing two additional common shares for each common share held by the shareholders. Also, a 13.3% increase in semi-annual dividend rate was declared.”

A number of other equities research analysts have also recently weighed in on the stock. BMO Capital Markets started coverage on shares of Universal Forest Products in a research report on Tuesday, October 17th. They issued a “market perform” rating and a $110.00 price target for the company. Sidoti started coverage on shares of Universal Forest Products in a research report on Tuesday, July 25th. They issued a “buy” rating for the company. Finally, BidaskClub cut shares of Universal Forest Products from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $117.50.

Shares of Universal Forest Products (UFPI) traded up 1.05% during mid-day trading on Monday, hitting $110.00. The stock had a trading volume of 37,251 shares. The stock’s 50-day moving average is $95.76 and its 200 day moving average is $90.21. The firm has a market cap of $2.25 billion, a PE ratio of 20.61 and a beta of 1.84. Universal Forest Products has a 12 month low of $77.80 and a 12 month high of $110.49.

Universal Forest Products (NASDAQ:UFPI) last released its quarterly earnings data on Tuesday, October 17th. The construction company reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.08. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $984.99 million. Universal Forest Products had a net margin of 2.85% and a return on equity of 12.05%. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS. Equities research analysts predict that Universal Forest Products will post $5.56 earnings per share for the current fiscal year.

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In other news, insider Patrick M. Webster sold 996 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $88.93, for a total value of $88,574.28. Following the completion of the sale, the insider now directly owns 58,919 shares of the company’s stock, valued at $5,239,666.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick M. Webster sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total transaction of $133,200.00. Following the completion of the sale, the insider now directly owns 59,915 shares of the company’s stock, valued at $5,320,452. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. increased its stake in shares of Universal Forest Products by 0.3% during the second quarter. Alps Advisors Inc. now owns 5,090 shares of the construction company’s stock worth $444,000 after acquiring an additional 14 shares during the period. Renaissance Group LLC increased its stake in shares of Universal Forest Products by 0.8% during the second quarter. Renaissance Group LLC now owns 3,386 shares of the construction company’s stock worth $296,000 after acquiring an additional 28 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Universal Forest Products by 0.6% during the second quarter. Nisa Investment Advisors LLC now owns 16,380 shares of the construction company’s stock worth $1,430,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Universal Forest Products by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the construction company’s stock worth $733,000 after acquiring an additional 100 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Universal Forest Products by 0.9% during the second quarter. Arizona State Retirement System now owns 10,723 shares of the construction company’s stock worth $936,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 80.28% 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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