UFP Industries, Inc. (NASDAQ:UFPI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of UFP Industries, Inc. (NASDAQ:UFPI) have been given a consensus recommendation of “Hold” by the seven analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $105.40.

Several equities research analysts have issued reports on the stock. DA Davidson decreased their price objective on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research note on Tuesday, May 5th. Benchmark decreased their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th.

Institutional Investors Weigh In On UFP Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in UFP Industries by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company’s stock worth $291,000 after buying an additional 92 shares during the period. Arkadios Wealth Advisors increased its stake in UFP Industries by 2.1% during the 4th quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock worth $423,000 after buying an additional 97 shares during the period. Geneos Wealth Management Inc. increased its stake in UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after buying an additional 114 shares during the period. SkyView Investment Advisors LLC increased its stake in UFP Industries by 1.3% during the 4th quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company’s stock worth $832,000 after buying an additional 114 shares during the period. Finally, US Bancorp DE increased its stake in UFP Industries by 2.3% during the 3rd quarter. US Bancorp DE now owns 5,439 shares of the construction company’s stock worth $508,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Price Performance

UFPI opened at $84.65 on Tuesday. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. UFP Industries has a 52-week low of $77.89 and a 52-week high of $118.00. The company has a 50 day moving average of $86.83 and a two-hundred day moving average of $94.36. The company has a market cap of $4.78 billion, a P/E ratio of 18.48 and a beta of 1.24.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. UFP Industries’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, analysts expect that UFP Industries will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.44 annualized dividend and a yield of 1.7%. UFP Industries’s payout ratio is 31.44%.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.