UFP Industries (NASDAQ:UFPI) Price Target Raised to $155.00

UFP Industries (NASDAQ:UFPI) had its price objective lifted by stock analysts at Benchmark from $133.00 to $155.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Benchmark’s price objective suggests a potential upside of 16.28% from the company’s current price.

Several other research analysts also recently commented on UFPI. BMO Capital Markets raised their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective (up from $102.00) on shares of UFP Industries in a report on Tuesday. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and an average target price of $132.60.

UFP Industries Price Performance

NASDAQ:UFPI traded down $2.04 during trading hours on Wednesday, hitting $133.30. The stock had a trading volume of 122,746 shares, compared to its average volume of 287,698. The company has a 50 day simple moving average of $116.72 and a two-hundred day simple moving average of $116.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37. UFP Industries has a one year low of $90.62 and a one year high of $136.14. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 16.58 and a beta of 1.40.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm earned $2.36 EPS. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. Research analysts forecast that UFP Industries will post 7.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Patrick M. Benton sold 11,725 shares of UFP Industries stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total value of $1,351,540.75. Following the transaction, the insider now owns 97,729 shares in the company, valued at approximately $11,265,221.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other UFP Industries news, insider David A. Tutas sold 3,038 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $120.21, for a total transaction of $365,197.98. Following the completion of the sale, the insider now directly owns 21,374 shares of the company’s stock, valued at $2,569,368.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patrick M. Benton sold 11,725 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the sale, the insider now directly owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The disclosure for this sale can be found here. Insiders have sold a total of 32,687 shares of company stock worth $3,831,653 in the last 90 days. 2.58% of the stock is owned by company insiders.

Institutional Trading of UFP Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of UFP Industries by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,559 shares of the construction company’s stock worth $94,609,000 after purchasing an additional 4,300 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in UFP Industries by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock valued at $90,857,000 after buying an additional 5,784 shares in the last quarter. Norges Bank bought a new stake in UFP Industries during the 4th quarter valued at about $86,885,000. Wells Fargo & Company MN raised its holdings in shares of UFP Industries by 871.3% in the 4th quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after purchasing an additional 369,687 shares in the last quarter. Finally, Wasatch Advisors LP grew its position in UFP Industries by 5.2% during the 4th quarter. Wasatch Advisors LP now owns 334,351 shares of the construction company’s stock worth $41,978,000 after purchasing an additional 16,486 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.