Universal Forest Products (UFPI) Rating Lowered to Hold at BidaskClub
Universal Forest Products (NASDAQ:UFPI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.
A number of other equities research analysts have also recently weighed in on UFPI. Zacks Investment Research upgraded Universal Forest Products from a “hold” rating to a “strong-buy” rating and set a $41.67 price target on the stock in a report on Monday, October 23rd. BMO Capital Markets initiated coverage on Universal Forest Products in a report on Tuesday, October 17th. They issued a “market perform” rating and a $36.67 price target on the stock. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $39.17.
Shares of Universal Forest Products (UFPI) traded down $0.53 during mid-day trading on Tuesday, hitting $37.53. The stock had a trading volume of 353,997 shares, compared to its average volume of 365,228. The stock has a market cap of $2,343.58, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 2.05 and a beta of 1.83. Universal Forest Products has a fifty-two week low of $25.93 and a fifty-two week high of $39.58. The company has a current ratio of 2.62, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15.
In related news, EVP Robert D. Coleman sold 4,100 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $111.41, for a total value of $456,781.00. Following the sale, the executive vice president now owns 1,680 shares in the company, valued at approximately $187,168.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Coleman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $110.15, for a total value of $550,750.00. Following the completion of the sale, the executive vice president now owns 1,680 shares in the company, valued at approximately $185,052. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,596 shares of company stock worth $1,382,405. Insiders own 3.40% of the company’s stock.
A number of large investors have recently made changes to their positions in UFPI. Benjamin F. Edwards & Company acquired a new stake in Universal Forest Products during the 4th quarter valued at $0. Flinton Capital Management LLC acquired a new stake in Universal Forest Products during the 4th quarter valued at $109,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Universal Forest Products by 393.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,195 shares of the construction company’s stock valued at $117,000 after buying an additional 953 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Universal Forest Products during the 2nd quarter valued at $130,000. Finally, Quantbot Technologies LP grew its holdings in Universal Forest Products by 47.7% during the 1st quarter. Quantbot Technologies LP now owns 1,425 shares of the construction company’s stock valued at $140,000 after buying an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 26.71% of the company’s stock.
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Universal Forest Products Company Profile
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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