UFP Technologies (NASDAQ:UFPT) Raised to Hold at Wall Street Zen

UFP Technologies (NASDAQ:UFPT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Zacks Research upgraded shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $289.00.

UFP Technologies Price Performance

NASDAQ UFPT opened at $189.45 on Friday. UFP Technologies has a 12 month low of $178.26 and a 12 month high of $274.93. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 21.58 and a beta of 1.13. The company’s 50 day moving average is $229.80 and its two-hundred day moving average is $221.02. The company has a current ratio of 2.68, a quick ratio of 1.52 and a debt-to-equity ratio of 0.32.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Tuesday, February 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.18. The business had revenue of $148.92 million during the quarter, compared to analyst estimates of $149.07 million. UFP Technologies had a net margin of 11.33% and a return on equity of 19.36%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UFPT. Global Retirement Partners LLC purchased a new stake in UFP Technologies during the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its holdings 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 worth $41,000 after buying an additional 165 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of UFP Technologies by 179.0% in the second quarter. PNC Financial Services Group Inc. now owns 173 shares of the industrial products company’s stock worth $42,000 after buying an additional 111 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of UFP Technologies during the second quarter worth $49,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of UFP Technologies during the third quarter worth $51,000. 87.28% of the stock is currently owned by institutional investors.

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.