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

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus price target of $30.00 for the company and are forecasting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also given UFP Technologies an industry rank of 192 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 report on Friday, September 22nd.

UFP Technologies (NASDAQ:UFPT) opened at $28.45 on Friday. UFP Technologies has a 1-year low of $22.95 and a 1-year high of $31.50. The stock has a market cap of $202.04, a P/E ratio of 26.10 and a beta of 0.13.

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

Several hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new stake in shares of UFP Technologies during the third quarter valued at approximately $128,000. New York State Common Retirement Fund increased its position in shares of 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 valued at $187,000 after acquiring an additional 5,597 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of 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 valued at $198,000 after acquiring an additional 1,237 shares in the last quarter. CAPROCK Group Inc. bought a new stake in shares of UFP Technologies during the third quarter valued at approximately $243,000. Finally, Wells Fargo & Company MN increased its position in shares of 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 valued at $252,000 after acquiring an additional 2,766 shares in the last quarter. Hedge funds and other institutional investors own 69.08% of the company’s stock.

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UFP Technologies Company Profile

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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