UFP Technologies (NASDAQ:UFPT) Reaches New 52-Week High on Analyst Upgrade

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) hit a new 52-week high during mid-day trading on Monday after Lake Street Capital raised their price target on the stock from $270.00 to $300.00. Lake Street Capital currently has a buy rating on the stock. UFP Technologies traded as high as $282.46 and last traded at $282.46, with a volume of 23028 shares. The stock had previously closed at $263.87.

Separately, CJS Securities initiated coverage on UFP Technologies in a research report on Wednesday, March 20th. They set an “outperform” rating and a $255.00 target price on the stock.

Institutional Trading of UFP Technologies

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. increased its stake in UFP Technologies by 98.6% during the 4th quarter. Federated Hermes Inc. now owns 147 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of UFP Technologies during the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC increased its position in shares of UFP Technologies by 1,614.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 113 shares during the period. Advisors Asset Management Inc. purchased a new position in UFP Technologies in the 1st quarter worth $35,000. Finally, AJOVista LLC acquired a new stake in UFP Technologies during the 4th quarter worth about $76,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Trading Up 9.6 %

The company has a 50 day simple moving average of $251.98 and a two-hundred day simple moving average of $216.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 2.87. The firm has a market cap of $2.22 billion, a PE ratio of 46.48 and a beta of 0.95.

UFP Technologies (NASDAQ:UFPT) last released its earnings results on Wednesday, May 1st. The industrial products company reported $1.66 EPS for the quarter. UFP Technologies had a return on equity of 17.40% and a net margin of 11.75%. The firm had revenue of $105.01 million during the quarter.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.