UFP Industries (NASDAQ:UFPI) Given New $125.00 Price Target at BMO Capital Markets

UFP Industries (NASDAQ:UFPI) had its target price upped by research analysts at BMO Capital Markets from $115.00 to $125.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. BMO Capital Markets’ price objective points to a potential downside of 4.80% from the stock’s current price.

A number of other brokerages have also weighed in on UFPI. Benchmark decreased their price objective on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Finally, Wedbush restated a “neutral” rating and issued a $120.00 price objective (up from $102.00) on shares of UFP Industries in a report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and an average price target of $121.80.

UFP Industries Stock Down 3.0 %

Shares of UFPI traded down $4.04 during mid-day trading on Wednesday, reaching $131.30. The company had a trading volume of 25,966 shares, compared to its average volume of 287,035. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 4.79. The firm has a 50-day moving average price of $116.72 and a 200 day moving average price of $116.40. UFP Industries has a 52 week low of $90.62 and a 52 week high of $136.14. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 16.33 and a beta of 1.40.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $2.36 EPS. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that UFP Industries will post 7.52 EPS for the current year.

Insider Activity

In other news, 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 transaction, the insider now directly owns 97,729 shares of the company’s stock, valued at approximately $11,265,221.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 transaction, the insider now directly owns 97,729 shares of the company’s stock, valued at approximately $11,265,221.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the transaction, the chief financial officer now directly owns 165,155 shares in the company, valued at $19,699,688.40. The disclosure for this sale can be found here. Insiders have sold 32,687 shares of company stock valued at $3,831,653 in the last ninety days. 2.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UFP Industries

Institutional investors have recently bought and sold shares of the stock. Foundry Partners LLC raised its holdings in UFP Industries by 13.1% in the 1st quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock worth $4,811,000 after purchasing an additional 4,526 shares during the period. Nordea Investment Management AB raised its holdings in UFP Industries by 28.6% in the 1st quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock worth $14,150,000 after purchasing an additional 25,508 shares during the period. NewEdge Wealth LLC bought a new position in UFP Industries in the 4th quarter worth $3,046,000. Acadian Asset Management LLC bought a new position in UFP Industries in the 1st quarter worth $1,214,000. Finally, Empowered Funds LLC increased its stake in UFP Industries by 14.9% in the 1st quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock worth $6,958,000 after buying an additional 7,320 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Company Profile

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.