UFP Industries (NASDAQ:UFPI) Receives "Buy" Rating from Benchmark

UFP Industries (NASDAQ:UFPI - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Benchmark in a report issued on Wednesday,Benzinga reports. They currently have a $135.00 price objective on the construction company's stock. Benchmark's price objective would suggest a potential upside of 24.37% from the company's previous close.

Several other analysts have also weighed in on the company. Wedbush reissued an "outperform" rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. StockNews.com raised UFP Industries from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $143.00.

UFP Industries Stock Performance

UFPI traded down $1.29 during midday trading on Wednesday, reaching $108.55. The company's stock had a trading volume of 409,269 shares, compared to its average volume of 288,099. The stock has a market cap of $6.59 billion, a P/E ratio of 16.03 and a beta of 1.45. The company has a fifty day simple moving average of $115.09 and a 200 day simple moving average of $123.09. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries has a twelve month low of $107.25 and a twelve month high of $141.33.

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

Insider Buying and Selling

In other UFP Industries news, Director William G. Currie sold 5,700 shares of UFP Industries stock in a transaction on Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the completion of the transaction, the director now owns 61,140 shares in the company, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UFP Industries

Several institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its position in UFP Industries by 31.8% in the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company's stock valued at $41,000 after purchasing an additional 76 shares during the last quarter. CIBC Asset Management Inc raised its position in UFP Industries by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock valued at $213,000 after purchasing an additional 97 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its position in UFP Industries by 5.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company's stock valued at $216,000 after purchasing an additional 104 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in UFP Industries by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company's stock valued at $494,000 after purchasing an additional 104 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in UFP Industries by 6.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company's stock valued at $202,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 81.81% of the company's stock.

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.