UFP Industries (NASDAQ:UFPI) Rating Increased to Strong-Buy at StockNews.com

UFP Industries (NASDAQ:UFPI) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Separately, Benchmark decreased their price target on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.50.

UFP Industries Stock Up 2.5 %

Shares of NASDAQ UFPI opened at $112.00 on Thursday. UFP Industries has a 52-week low of $90.62 and a 52-week high of $128.65. The firm has a fifty day moving average of $116.22 and a 200-day moving average of $117.08. The stock has a market capitalization of $6.92 billion, a PE ratio of 13.93 and a beta of 1.45. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company earned $1.98 EPS. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, analysts anticipate that UFP Industries will post 7.53 EPS for the current year.

Insider Buying and Selling at UFP Industries

In other UFP Industries news, insider David A. Tutas sold 3,038 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total value of $365,197.98. Following the completion of the transaction, the insider now directly owns 21,374 shares of the company’s stock, valued at approximately $2,569,368.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Patrick M. Benton sold 11,725 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $115.27, for a total value of $1,351,540.75. Following the sale, the insider now owns 97,729 shares in the company, valued at approximately $11,265,221.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Tutas sold 3,038 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total transaction of $365,197.98. Following the completion of the sale, the insider now owns 21,374 shares in the company, valued at approximately $2,569,368.54. The disclosure for this sale can be found here. Insiders sold a total of 32,687 shares of company stock valued at $3,831,653 in the last ninety days. Insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On UFP Industries

A number of institutional investors have recently modified their holdings of UFPI. Contravisory Investment Management Inc. acquired a new stake in UFP Industries during the fourth quarter worth about $27,000. GAMMA Investing LLC acquired a new stake in UFP Industries during the fourth quarter worth about $30,000. Rise Advisors LLC acquired a new stake in UFP Industries during the first quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new stake in UFP Industries during the first quarter worth about $33,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of UFP Industries by 218.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock valued at $36,000 after purchasing an additional 197 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.