UFP Technologies (NASDAQ:UFPT) Shares Gap Up on Earnings Beat

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) shares gapped up prior to trading 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 trading hands.

The industrial products company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.45. The company had revenue of $144.07 million during the quarter, compared to the consensus estimate of $141.67 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of UFP Technologies from a "hold" rating to a "sell" rating in a report on Thursday, January 23rd.

Institutional Trading of UFP Technologies

Large investors have recently bought and sold shares of the business. AlphaQuest LLC acquired a new position in UFP Technologies in the 4th quarter valued at about $25,000. Johnson Financial Group Inc. acquired a new position in UFP Technologies in the 4th quarter valued at about $42,000. Truvestments Capital LLC acquired a new position in UFP Technologies in the 3rd quarter valued at about $56,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in UFP Technologies by 97.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 270 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 133 shares during the last quarter. Finally, KBC Group NV boosted its holdings in UFP Technologies by 42.4% in the 3rd quarter. KBC Group NV now owns 272 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company's stock.

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UFP Technologies Stock Down 1.9 %

The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 32.47 and a beta of 1.04. The firm's fifty day simple moving average is $257.59 and its two-hundred day simple moving average is $290.60.

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.