UFP Technologies (NASDAQ:UFPT) Stock Crosses Above 200-Day Moving Average – Here’s Why

UFP Technologies, Inc. (NASDAQ:UFPT) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $220.69 and traded as high as $252.63. UFP Technologies shares last traded at $251.14, with a volume of 197,973 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of UFP Technologies in a research report on Wednesday, October 8th. Zacks Research raised UFP Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Finally, Wall Street Zen cut UFP Technologies from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $289.00.

UFP Technologies Stock Up 1.8%

The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 29.10 and a beta of 1.11. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $236.29 and its two-hundred day moving average is $220.69.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Monday, November 3rd. The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.17. UFP Technologies had a net margin of 11.23% and a return on equity of 20.45%. The company had revenue of $154.56 million during the quarter, compared to the consensus estimate of $149.56 million. The business’s quarterly revenue was up 6.5% on a year-over-year basis.

Insiders Place Their Bets

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,829 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $227.20, for a total value of $415,548.80. Following the transaction, the senior vice president directly owned 10,756 shares of the company’s stock, valued at $2,443,763.20. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UFP Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its stake in UFP Technologies by 1.4% in the second quarter. Wasatch Advisors LP now owns 650,960 shares of the industrial products company’s stock valued at $158,938,000 after buying an additional 8,770 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of UFP Technologies by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 533,578 shares of the industrial products company’s stock worth $118,470,000 after acquiring an additional 5,957 shares during the period. Congress Asset Management Co. increased its holdings in shares of UFP Technologies by 32.4% in the 4th quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company’s stock worth $97,942,000 after acquiring an additional 107,908 shares during the period. American Century Companies Inc. lifted its position in UFP Technologies by 13.0% in the 2nd quarter. American Century Companies Inc. now owns 325,047 shares of the industrial products company’s stock valued at $79,364,000 after purchasing an additional 37,459 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its stake in UFP Technologies by 19.3% during the 2nd quarter. Boston Trust Walden Corp now owns 255,377 shares of the industrial products company’s stock valued at $62,353,000 after purchasing an additional 41,230 shares during the period. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Company Profile

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.