DA Davidson Reaffirms “Buy” Rating for UFP Industries (NASDAQ:UFPI)

UFP Industries (NASDAQ:UFPI)‘s stock had its “buy” rating restated by analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $105.00 price target on the construction company’s stock. DA Davidson‘s price objective would indicate a potential upside of 31.38% from the stock’s previous close.

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

UFP Industries Price Performance

NASDAQ UFPI traded down $1.01 during trading on Tuesday, reaching $79.92. 392,470 shares of the company traded hands, compared to its average volume of 440,884. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. The stock’s 50 day moving average price is $81.40 and its two-hundred day moving average price is $90.05. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 18.33 and a beta of 1.22. 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 quarterly earnings data 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. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. As a group, analysts anticipate that UFP Industries will post 4.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UFPI. BlackRock Inc. bought a new stake in shares of UFP Industries in the 2nd quarter valued at $688,063,000. Deprince Race & Zollo Inc. lifted its stake in UFP Industries by 27.1% in the 1st quarter. Deprince Race & Zollo Inc. now owns 579,797 shares of the construction company’s stock valued at $53,411,000 after purchasing an additional 123,500 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in UFP Industries in the 2nd quarter valued at about $34,067,000. Bank of America Corp DE acquired a new stake in UFP Industries in the 2nd quarter valued at about $25,529,000. Finally, Sei Investments Co. lifted its stake in UFP Industries by 19.1% in the 1st quarter. Sei Investments Co. now owns 262,394 shares of the construction company’s stock valued at $24,171,000 after purchasing an additional 42,171 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

About UFP Industries

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.