UFP Technologies (NASDAQ:UFPT) Shares Gap Up After Better-Than-Expected Earnings

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $240.94, but opened at $255.00. UFP Technologies shares last traded at $257.85, with a volume of 15,176 shares traded.

The industrial products company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

Institutional Investors Weigh In On UFP Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC bought a new stake in UFP Technologies in the 4th quarter valued at $25,000. Johnson Financial Group Inc. purchased a new position in shares of UFP Technologies during the fourth quarter valued at about $42,000. Truvestments Capital LLC bought a new stake in shares of UFP Technologies in the third quarter worth about $56,000. Venturi Wealth Management LLC purchased a new stake in shares of UFP Technologies in the fourth quarter worth about $74,000. Finally, EverSource Wealth Advisors LLC boosted its stake in UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock valued at $81,000 after buying an additional 66 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.

UFP Technologies Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. The firm has a fifty day simple moving average of $257.78 and a two-hundred day simple moving average of $291.72. The firm has a market cap of $1.99 billion, a PE ratio of 36.50 and a beta of 1.04.

UFP Technologies Company Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.