UFP Technologies (UFPT) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of UFP Technologies (NASDAQ:UFPT) from a strong-buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Other analysts have also issued reports about the stock. ValuEngine upgraded shares of UFP Technologies from a hold rating to a buy rating in a research report on Thursday, July 19th. Taglich Brothers restated a buy rating on shares of UFP Technologies in a research report on Wednesday, August 29th. Finally, BidaskClub upgraded shares of UFP Technologies from a hold rating to a buy rating in a research report on Thursday, September 20th.

UFPT stock opened at $34.23 on Wednesday. The company has a market capitalization of $251.92 million, a PE ratio of 18.21 and a beta of 0.12. UFP Technologies has a 12 month low of $26.00 and a 12 month high of $39.98. The company has a current ratio of 2.83, a quick ratio of 1.91 and a debt-to-equity ratio of 0.28.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $47.81 million for the quarter, compared to analyst estimates of $49.80 million. UFP Technologies had a net margin of 7.13% and a return on equity of 10.93%. Equities analysts anticipate that UFP Technologies will post 2.12 EPS for the current fiscal year.

In related news, insider R Jeffrey Bailly sold 20,941 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $35.50, for a total transaction of $743,405.50. Following the sale, the insider now owns 535,321 shares in the company, valued at $19,003,895.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald J. Lataille sold 10,548 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $36.04, for a total transaction of $380,149.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,319 shares of company stock worth $2,044,353. 12.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ramsey Quantitative Systems acquired a new stake in UFP Technologies during the third quarter worth approximately $110,000. Acadian Asset Management LLC boosted its position in UFP Technologies by 137.0% during the second quarter. Acadian Asset Management LLC now owns 7,337 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 4,241 shares during the last quarter. First Trust Advisors LP acquired a new stake in UFP Technologies during the second quarter worth approximately $231,000. Quantum Capital Management boosted its position in UFP Technologies by 24.6% during the second quarter. Quantum Capital Management now owns 31,989 shares of the industrial products company’s stock worth $987,000 after acquiring an additional 6,312 shares during the last quarter. Finally, Anchor Capital Advisors LLC boosted its position in UFP Technologies by 24.0% during the third quarter. Anchor Capital Advisors LLC now owns 44,714 shares of the industrial products company’s stock worth $1,643,000 after acquiring an additional 8,650 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. The company offers medical devices and components, disposable wound care components, automotive interior trims, athletic paddings, abrasive nail files and other beauty aids, air filtration products, high-temperature insulations, military uniform and gear components, and cushion packaging products.

Read More: What does EPS mean?

Get a free copy of the Zacks research report on UFP Technologies (UFPT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for UFP Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UFP Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply