Universal Forest Products (UFPI) Stock Rating Lowered by BidaskClub

Universal Forest Products (NASDAQ:UFPI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

A number of other research analysts also recently issued reports on UFPI. Zacks Investment Research upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. ValuEngine upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, Seaport Global Securities assumed coverage on shares of Universal Forest Products in a research note on Friday, August 3rd. They issued a “buy” rating and a $47.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.33.

Shares of UFPI stock opened at $34.64 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 3.00 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.17 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.84 and a beta of 1.86. Universal Forest Products has a fifty-two week low of $31.16 and a fifty-two week high of $39.58.

Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, July 18th. The construction company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.02). Universal Forest Products had a return on equity of 13.07% and a net margin of 3.29%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. research analysts predict that Universal Forest Products will post 2.48 EPS for the current year.

In related news, insider Patrick M. Benton sold 6,243 shares of Universal Forest Products stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $37.20, for a total value of $232,239.60. Following the completion of the transaction, the insider now owns 64,385 shares in the company, valued at $2,395,122. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert D. Coleman sold 10,000 shares of Universal Forest Products stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $37.90, for a total transaction of $379,000.00. Following the completion of the transaction, the executive vice president now owns 5,040 shares of the company’s stock, valued at approximately $191,016. The disclosure for this sale can be found here. Insiders sold 21,243 shares of company stock valued at $798,940 in the last quarter. 3.40% of the stock is owned by insiders.

Several large investors have recently modified their holdings of UFPI. BlackRock Inc. lifted its position in shares of Universal Forest Products by 9.8% during the 2nd quarter. BlackRock Inc. now owns 10,577,523 shares of the construction company’s stock worth $387,350,000 after buying an additional 940,237 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Universal Forest Products by 191.7% during the 2nd quarter. Victory Capital Management Inc. now owns 958,897 shares of the construction company’s stock worth $35,115,000 after buying an additional 630,203 shares during the last quarter. SG Capital Management LLC purchased a new stake in shares of Universal Forest Products during the 2nd quarter worth approximately $10,849,000. PNC Financial Services Group Inc. lifted its position in shares of Universal Forest Products by 26.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 922,417 shares of the construction company’s stock worth $33,780,000 after buying an additional 194,852 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Universal Forest Products by 24.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 848,938 shares of the construction company’s stock worth $27,548,000 after buying an additional 167,223 shares during the last quarter. Institutional investors and hedge funds own 79.76% 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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