Q3 EPS Estimates for UFP Industries Lowered by DA Davidson

UFP Industries, Inc. (NASDAQ:UFPI - Free Report) - DA Davidson lowered their Q3 2024 EPS estimates for UFP Industries in a report issued on Thursday, October 24th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $1.71 per share for the quarter, down from their previous forecast of $1.72. The consensus estimate for UFP Industries' current full-year earnings is $7.27 per share. DA Davidson also issued estimates for UFP Industries' FY2024 earnings at $7.10 EPS and FY2025 earnings at $7.88 EPS.

UFPI has been the subject of a number of other research reports. Wedbush upgraded UFP Industries from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $120.00 to $155.00 in a report on Tuesday, October 8th. BMO Capital Markets lifted their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a "market perform" rating in a research report on Wednesday, July 31st. Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Stifel Nicolaus lifted their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Finally, StockNews.com cut UFP Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.60.

UFP Industries Trading Up 1.1 %

UFP Industries stock traded up $1.40 during mid-day trading on Monday, reaching $131.57. 310,538 shares of the company traded hands, compared to its average volume of 279,255. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. UFP Industries has a 52-week low of $90.62 and a 52-week high of $139.54. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 16.40 and a beta of 1.39. The firm's 50 day moving average price is $126.49 and its 200 day moving average price is $120.37.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. 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 earned $2.36 earnings per share. The business's revenue was down 6.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in UFP Industries by 0.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company's stock valued at $361,155,000 after purchasing an additional 28,601 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in UFP Industries by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company's stock worth $116,467,000 after buying an additional 32,555 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 acquiring an additional 5,784 shares during the period. AQR Capital Management LLC boosted its holdings in shares of UFP Industries by 22.7% during the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company's stock valued at $67,594,000 after acquiring an additional 112,518 shares during the last quarter. Finally, Copeland Capital Management LLC grew its stake in shares of UFP Industries by 1.0% in the third quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company's stock worth $71,667,000 after acquiring an additional 5,515 shares during the period. 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.