Shares of Universal Forest Products, Inc. (NASDAQ:UFPI) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation. Universal Forest Products’ rating score has improved by 50% from three months ago as a result of various analysts’ ratings changes.
Brokerages have set a 1 year consensus target price of $123.00 for the company and are expecting that the company will post $1.85 earnings per share for the current quarter, according to Zacks. Zacks has also given Universal Forest Products an industry rank of 9 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised Universal Forest Products from a “sell” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Friday, March 17th.
In related news, VP Charles Scott Greene sold 2,475 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $99.49, for a total value of $246,237.75. Following the completion of the sale, the vice president now owns 5,298 shares of the company’s stock, valued at $527,098.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael G. Wooldridge purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was acquired at an average cost of $99.24 per share, with a total value of $49,620.00. Following the purchase, the director now directly owns 1,808 shares of the company’s stock, valued at $179,425.92. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Universal Forest Products during the fourth quarter worth about $26,365,000. Russell Investments Group Ltd. purchased a new position in Universal Forest Products during the fourth quarter worth about $12,012,000. FMR LLC increased its position in Universal Forest Products by 132.6% in the fourth quarter. FMR LLC now owns 175,174 shares of the construction company’s stock worth $17,899,000 after buying an additional 99,850 shares during the period. Prudential Financial Inc. increased its position in Universal Forest Products by 27.2% in the third quarter. Prudential Financial Inc. now owns 395,844 shares of the construction company’s stock worth $38,986,000 after buying an additional 84,690 shares during the period. Finally, BlackRock Fund Advisors increased its position in Universal Forest Products by 4.0% in the third quarter. BlackRock Fund Advisors now owns 1,504,666 shares of the construction company’s stock worth $148,195,000 after buying an additional 58,018 shares during the period. Institutional investors and hedge funds own 81.12% of the company’s stock.
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Universal Forest Products (NASDAQ:UFPI) traded up 0.02% during midday trading on Friday, hitting $95.29. 211,484 shares of the stock were exchanged. The company has a market capitalization of $1.94 billion, a P/E ratio of 19.21 and a beta of 1.70. The company’s 50 day moving average is $96.47 and its 200 day moving average is $98.67. Universal Forest Products has a 1-year low of $76.11 and a 1-year high of $110.97.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, April 18th. The construction company reported $1.03 EPS for the quarter, hitting analysts’ consensus estimates of $1.03. Universal Forest Products had a return on equity of 12.31% and a net margin of 3.27%. The company earned $846.10 million during the quarter, compared to analyst estimates of $812.57 million. During the same quarter last year, the firm posted $0.95 earnings per share. The firm’s revenue was up 24.0% on a year-over-year basis. Analysts predict that Universal Forest Products will post $5.86 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.45 dividend. This represents a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, May 30th. Universal Forest Products’s payout ratio is 18.44%.
About Universal Forest Products
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.
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