UFP Industries (NASDAQ:UFPI) Announces Earnings Results

UFP Industries (NASDAQ:UFPI - Get Free Report) released its quarterly earnings results on Monday. The construction company reported $1.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.25), Briefing.com reports. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company earned $2.10 EPS. The company's revenue was down 9.8% compared to the same quarter last year.

UFP Industries Stock Performance

UFPI stock traded down $8.53 during trading hours on Tuesday, hitting $123.04. 539,897 shares of the stock were exchanged, compared to its average volume of 280,789. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $7.60 billion, a P/E ratio of 15.30 and a beta of 1.39. The company has a 50-day simple moving average of $126.83 and a two-hundred day simple moving average of $120.53. UFP Industries has a 12 month low of $90.62 and a 12 month high of $139.54.

Analysts Set New Price Targets

A number of research firms have weighed in on UFPI. Stifel Nicolaus upped their price target on UFP Industries from $125.00 to $157.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. BMO Capital Markets upped their price target on UFP Industries from $115.00 to $125.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 5th. Wedbush raised UFP Industries from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $120.00 to $155.00 in a report on Tuesday, October 8th. Finally, Benchmark increased their price objective on UFP Industries from $133.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, UFP Industries has an average rating of "Moderate Buy" and an average price target of $139.60.

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.