UFP Technologies (NASDAQ:UFPT) Reaches New 1-Year High – Should You Buy?

UFP Technologies, Inc. (NASDAQ:UFPT)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $279.08 and last traded at $272.07, with a volume of 303943 shares trading hands. The stock had previously closed at $272.36.

Analysts Set New Price Targets

Several research firms have commented on UFPT. Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Technologies in a research note on Friday, May 29th. Wall Street Zen upgraded shares of UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, UFP Technologies currently has an average rating of “Hold” and a consensus target price of $289.00.

UFP Technologies Stock Down 0.1%

The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 30.88 and a beta of 1.07. The firm’s 50 day moving average is $229.41 and its two-hundred day moving average is $226.91.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.30. The firm had revenue of $154.20 million for the quarter, compared to analyst estimates of $154.78 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $2.47 EPS. On average, sell-side analysts predict that UFP Technologies, Inc. will post 10.23 EPS for the current year.

Insider Activity

In related news, Director Daniel C. Croteau sold 2,864 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director owned 855 shares of the company’s stock, valued at $189,562.05. This trade represents a 77.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the completion of the transaction, the director owned 5,476 shares of the company’s stock, valued at $1,310,352.04. This trade represents a 17.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.59% of the stock is currently owned by insiders.

Institutional Trading of UFP Technologies

Hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in shares of UFP Technologies during the 4th quarter valued at $28,000. Versant Capital Management Inc boosted its position in shares of UFP Technologies by 1,291.7% in the second quarter. Versant Capital Management Inc now owns 167 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 155 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of UFP Technologies by 1,500.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock valued at $41,000 after buying an additional 165 shares during the period. Canada Pension Plan Investment Board bought a new position in UFP Technologies in the second quarter worth $49,000. Finally, PNC Financial Services Group Inc. grew its position in UFP Technologies by 66.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 87.28% of the company’s stock.

About UFP Technologies

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.