Seaport Global Securities Brokers Decrease Earnings Estimates for Universal Forest Products, Inc. (UFPI)

Universal Forest Products, Inc. (NASDAQ:UFPI) – Seaport Global Securities dropped their FY2018 EPS estimates for shares of Universal Forest Products in a report released on Thursday, October 18th. Seaport Global Securities analyst R. Garner now forecasts that the construction company will post earnings per share of $2.27 for the year, down from their previous forecast of $2.47. Seaport Global Securities has a “Buy” rating and a $47.00 price objective on the stock. Seaport Global Securities also issued estimates for Universal Forest Products’ Q4 2018 earnings at $0.46 EPS, Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.86 EPS, Q3 2019 earnings at $0.76 EPS, Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $2.65 EPS and FY2020 earnings at $3.05 EPS.

Universal Forest Products (NASDAQ:UFPI) last issued its earnings results on Tuesday, October 16th. The construction company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.07). Universal Forest Products had a net margin of 3.34% and a return on equity of 13.35%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis.

Several other analysts also recently commented on UFPI. Zacks Investment Research downgraded Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. BidaskClub downgraded Universal Forest Products from a “buy” rating to a “hold” rating in a research note on Friday, July 13th. Finally, ValuEngine downgraded Universal Forest Products from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Universal Forest Products currently has an average rating of “Hold” and a consensus price target of $41.33.

Shares of UFPI opened at $28.92 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.57 and a debt-to-equity ratio of 0.17. Universal Forest Products has a 12 month low of $28.67 and a 12 month high of $39.58. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 2.53 and a beta of 1.84.

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Stockholders of record on Saturday, December 1st will be paid a $0.18 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.49%. Universal Forest Products’s dividend payout ratio (DPR) is currently 19.57%.

In other news, EVP Robert D. Coleman sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $37.90, for a total value of $379,000.00. Following the transaction, the executive vice president now directly owns 5,040 shares in the company, valued at approximately $191,016. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert D. Coleman sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $37.54, for a total value of $187,700.00. Following the completion of the transaction, the executive vice president now owns 5,040 shares in the company, valued at $189,201.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,243 shares of company stock worth $798,940. Company insiders own 3.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Universal Forest Products by 5.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 29,092 shares of the construction company’s stock worth $1,065,000 after buying an additional 1,532 shares during the last quarter. Fox Run Management L.L.C. raised its holdings in Universal Forest Products by 19.4% in the 3rd quarter. Fox Run Management L.L.C. now owns 11,295 shares of the construction company’s stock worth $399,000 after purchasing an additional 1,833 shares during the period. Envestnet Asset Management Inc. raised its holdings in Universal Forest Products by 14.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,935 shares of the construction company’s stock worth $546,000 after purchasing an additional 1,936 shares during the period. BancorpSouth Bank raised its holdings in Universal Forest Products by 10.4% in the 2nd quarter. BancorpSouth Bank now owns 20,814 shares of the construction company’s stock worth $762,000 after purchasing an additional 1,967 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its holdings in Universal Forest Products by 82.8% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 4,615 shares of the construction company’s stock worth $169,000 after purchasing an additional 2,090 shares during the period. Hedge funds and other institutional investors own 79.64% of the company’s stock.

About Universal Forest Products

Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood composite decking, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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Earnings History and Estimates for Universal Forest Products (NASDAQ:UFPI)

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