Wedbush Brokers Lift Earnings Estimates for UFP Industries, Inc. (NASDAQ:UFPI)

UFP Industries, Inc. (NASDAQ:UFPI) – Research analysts at Wedbush increased their Q3 2024 earnings per share estimates for UFP Industries in a research report issued on Tuesday, October 8th. Wedbush analyst J. Mccanless now expects that the construction company will post earnings of $1.93 per share for the quarter, up from their previous estimate of $1.89. Wedbush currently has a “Outperform” rating and a $155.00 target price on the stock. The consensus estimate for UFP Industries’ current full-year earnings is $7.27 per share. Wedbush also issued estimates for UFP Industries’ Q4 2024 earnings at $1.46 EPS, FY2024 earnings at $7.40 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $2.28 EPS, Q3 2025 earnings at $2.07 EPS, Q4 2025 earnings at $1.55 EPS and FY2025 earnings at $7.72 EPS.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $2.36 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis.

A number of other equities analysts have also recently commented on UFPI. Stifel Nicolaus lifted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Benchmark boosted their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets increased their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.60.

UFP Industries Trading Down 1.8 %

Shares of NASDAQ UFPI opened at $134.55 on Thursday. UFP Industries has a 1-year low of $90.62 and a 1-year high of $137.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. The business’s 50 day moving average is $123.16 and its two-hundred day moving average is $119.29. The stock has a market capitalization of $8.31 billion, a P/E ratio of 16.74 and a beta of 1.39.

Institutional Trading of UFP Industries

Large investors have recently modified their holdings of the company. UMB Bank n.a. grew its holdings in UFP Industries by 300.0% during the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after acquiring an additional 144 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of UFP Industries during the second quarter valued at approximately $29,000. Opal Wealth Advisors LLC purchased a new position in UFP Industries during the first quarter valued at approximately $33,000. Rise Advisors LLC bought a new position in UFP Industries in the first quarter worth approximately $33,000. Finally, Triad Wealth Partners LLC purchased a new stake in UFP Industries during the second quarter worth $56,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, August 30th. UFP Industries’s dividend payout ratio is presently 16.42%.

UFP Industries Company Profile

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.