Unique Fabricating (NYSEAMERICAN:UFAB) Lifted to “Buy” at Zacks Investment Research

Unique Fabricating (NYSEAMERICAN:UFAB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday, Zacks.com reports. The brokerage presently has a $3.00 price target on the auto parts company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.36% from the stock’s current price.

According to Zacks, “Unique Fabricating, Inc. is a supplier of components in the automotive and industrial appliance market. The Company’s solutions comprised of multi-material foam, rubber and plastic components for noise, vibration and harshness management, acoustical management, water and air sealing, decorative and other functional applications. Its processes include die cutting, thermoforming, compression molding, fusion molding and assembly. The company operates primarily in Auburn Hills, Michigan, LaFayette, Georgia and Monterrey, Mexico. Unique Fabricating, Inc. is headquartered in Auburn Hills, Michigan. “

Separately, TheStreet lowered shares of Unique Fabricating from a “c” rating to a “d” rating in a research report on Friday, August 30th.

UFAB stock traded up $0.06 during midday trading on Friday, hitting $2.67. 19,953 shares of the stock traded hands, compared to its average volume of 11,107. The stock’s fifty day simple moving average is $2.71 and its 200-day simple moving average is $3.23. Unique Fabricating has a 1-year low of $2.27 and a 1-year high of $7.10.

Unique Fabricating (NYSEAMERICAN:UFAB) last released its quarterly earnings results on Thursday, November 7th. The auto parts company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The firm had revenue of $38.55 million for the quarter, compared to analyst estimates of $39.50 million.

In related news, Director Richard L. Baum, Jr. acquired 23,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $2.64 per share, with a total value of $62,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new position in shares of Unique Fabricating in the second quarter worth about $34,000. JFS Wealth Advisors LLC purchased a new position in shares of Unique Fabricating in the second quarter worth about $73,000. Vanguard Group Inc. lifted its stake in shares of Unique Fabricating by 42.4% in the second quarter. Vanguard Group Inc. now owns 85,246 shares of the auto parts company’s stock worth $231,000 after buying an additional 25,400 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its stake in shares of Unique Fabricating by 1.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 621,849 shares of the auto parts company’s stock worth $1,685,000 after buying an additional 7,795 shares in the last quarter.

Unique Fabricating Company Profile

Unique Fabricating, Inc engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration, harshness, acoustical management, water and air sealing, decorative, and other functional applications. It offers die cut products, such as trim insulation, headliner insulation, fender acoustical pad, A/B/C pillar cover, dashboard seal, cup holder base, and under hood insulation products, as well as heating, ventilation, and air conditioning (HVAC) seals; thermoformed and compression molded products, including HVAC air ducts, door water shields, evaporator liners, console bin mats and fender insulators, and others; and fusion molded products comprising interior mirror, body-in-white, cowl to hood, and cowl to fender seals.

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