UFP Industries’ (UFPI) “Buy” Rating Reiterated at DA Davidson

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating reaffirmed by DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They presently have a $105.00 price target on the construction company’s stock. DA Davidson‘s target price points to a potential upside of 32.79% from the stock’s previous close.

A number of other analysts also recently issued reports on UFPI. Oppenheimer initiated coverage on shares of UFP Industries in a report on Wednesday, September 30th. They issued a “market perform” rating on the stock. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, October 12th. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Stifel Nicolaus set a $85.00 target price on shares of UFP Industries and gave the stock a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has an average rating of “Hold” and an average target price of $103.25.

UFP Industries Trading Down 1.1%

Shares of UFP Industries stock traded down $0.85 on Tuesday, hitting $79.07. 39,742 shares of the company’s stock were exchanged, compared to its average volume of 438,890. The company has a 50-day simple moving average of $81.23 and a 200-day simple moving average of $89.99. UFP Industries has a 1 year low of $73.72 and a 1 year high of $118.00.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.79 billion. As a group, equities analysts anticipate that UFP Industries will post 4.47 earnings per share for the current year.

Institutional Investors Weigh In On UFP Industries

Hedge funds have recently modified their holdings of the business. IAG Wealth Partners LLC bought a new position in shares of UFP Industries during the 1st quarter worth approximately $28,000. Reyes Financial Architecture Inc. acquired a new position in UFP Industries during the 3rd quarter valued at approximately $25,000. Root Financial Partners LLC increased its stake in UFP Industries by 86.0% during the 1st quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after purchasing an additional 148 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in UFP Industries during the 1st quarter valued at approximately $40,000. Finally, Ameritas Advisory Services LLC acquired a new position in UFP Industries during the 2nd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc is a diversified manufacturer and distributor of wood, composite and other products serving the retail, construction and industrial markets. The company supplies materials and components used in outdoor living, residential and commercial construction, manufactured housing, packaging and a range of industrial applications.

Its products include treated lumber, decking, fencing, landscaping products, roof trusses, wall panels, wood components, pallets, crates, specialty packaging and other custom-engineered products.