StockNews.com Downgrades UFP Industries (NASDAQ:UFPI) to Hold

UFP Industries (NASDAQ:UFPI - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Wednesday.

Several other equities research analysts have also weighed in on the company. Benchmark restated a "buy" rating and issued a $135.00 target price on shares of UFP Industries in a report on Wednesday. Wedbush restated an "outperform" rating and issued a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $143.00.

UFP Industries Stock Performance

UFPI traded down $1.29 on Wednesday, hitting $108.55. The company had a trading volume of 422,810 shares, compared to its average volume of 293,571. The company's fifty day moving average price is $115.09 and its 200 day moving average price is $123.09. UFP Industries has a 1-year low of $107.25 and a 1-year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 16.03 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. Equities analysts predict that UFP Industries will post 7.42 earnings per share for the current fiscal year.

Insider Transactions at UFP Industries

In other news, Director William G. Currie sold 5,700 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the completion of the transaction, the director now directly owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.58% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UFPI. Putney Financial Group LLC acquired a new position in shares of UFP Industries in the fourth quarter valued at $30,000. Signaturefd LLC raised its stake in shares of UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company's stock valued at $41,000 after purchasing an additional 76 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of UFP Industries by 1,683.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company's stock valued at $60,000 after purchasing an additional 505 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of UFP Industries by 357.8% in the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company's stock valued at $60,000 after purchasing an additional 415 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of UFP Industries in the fourth quarter valued at $61,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

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.