Zacks: Analysts Set $30.00 Target Price for UFP Technologies, Inc. (UFPT)

UFP Technologies, Inc. (NASDAQ:UFPT) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus target price of $30.00 for the company and are anticipating that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also assigned UFP Technologies an industry rank of 196 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research lowered shares of UFP Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd.

Large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. bought a new stake in UFP Technologies during the third quarter worth about $128,000. New York State Common Retirement Fund boosted its stake in UFP Technologies by 559.1% during the second quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock worth $187,000 after acquiring an additional 5,597 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in UFP Technologies by 21.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,998 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 1,237 shares in the last quarter. CAPROCK Group Inc. bought a new stake in UFP Technologies during the third quarter worth about $243,000. Finally, Wells Fargo & Company MN boosted its stake in UFP Technologies by 44.7% during the third quarter. Wells Fargo & Company MN now owns 8,957 shares of the industrial products company’s stock worth $252,000 after acquiring an additional 2,766 shares in the last quarter. 69.08% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies (NASDAQ:UFPT) opened at $27.95 on Thursday. UFP Technologies has a 52-week low of $22.95 and a 52-week high of $31.50. The stock has a market cap of $200.22, a PE ratio of 25.64 and a beta of 0.13.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.13). UFP Technologies had a return on equity of 6.83% and a net margin of 5.43%. The business had revenue of $35.68 million for the quarter, compared to the consensus estimate of $38.70 million. analysts expect that UFP Technologies will post 1.12 earnings per share for the current fiscal year.

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About UFP Technologies

UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.

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