Universal Forest Products Inc. (NASDAQ:UFPI) has been given an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation. Universal Forest Products’ rating score has improved by 18.3% in the last three months as a result of various analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price objective of $105.00 for the company and are anticipating that the company will post $1.46 earnings per share for the current quarter, according to Zacks. Zacks has also given Universal Forest Products an industry rank of 13 out of 265 based on the ratings given to related companies.
UFPI has been the subject of several research reports. Zacks Investment Research downgraded Universal Forest Products from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 21st. DA Davidson upgraded Universal Forest Products from an “underperform” rating to a “neutral” rating in a research note on Friday, July 22nd.
Universal Forest Products (NASDAQ:UFPI) opened at 102.33 on Friday. The company has a market cap of $2.08 billion, a PE ratio of 21.41 and a beta of 1.66. The firm has a 50-day moving average price of $105.56 and a 200-day moving average price of $92.45. Universal Forest Products has a 52-week low of $57.11 and a 52-week high of $110.97.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.16. The firm earned $872.10 million during the quarter, compared to the consensus estimate of $903.33 million. Universal Forest Products had a return on equity of 12.38% and a net margin of 3.27%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, analysts forecast that Universal Forest Products will post $4.84 EPS for the current year.
In related news, CEO Matthew J. Missad sold 400 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $102.75, for a total transaction of $41,100.00. Following the sale, the chief executive officer now owns 55,559 shares of the company’s stock, valued at approximately $5,708,687.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert D. Coleman sold 2,500 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $108.17, for a total value of $270,425.00. Following the sale, the executive vice president now directly owns 1,680 shares in the company, valued at approximately $181,725.60. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Universal Forest Products by 15.0% in the second quarter. Vanguard Group Inc. now owns 1,844,299 shares of the company’s stock worth $170,949,000 after buying an additional 239,898 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Universal Forest Products by 2.1% in the second quarter. BlackRock Fund Advisors now owns 1,446,648 shares of the company’s stock worth $134,090,000 after buying an additional 29,191 shares during the period. State Street Corp boosted its stake in shares of Universal Forest Products by 28.8% in the second quarter. State Street Corp now owns 556,128 shares of the company’s stock worth $51,552,000 after buying an additional 124,413 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Universal Forest Products by 10.0% in the second quarter. Acadian Asset Management LLC now owns 552,977 shares of the company’s stock worth $51,257,000 after buying an additional 50,346 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Universal Forest Products by 8.9% in the second quarter. Prudential Financial Inc. now owns 311,154 shares of the company’s stock worth $28,841,000 after buying an additional 25,360 shares during the period. 82.43% of the stock is currently owned by institutional investors and hedge funds.
About Universal Forest Products
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets: retail, construction and industrial. Its industrial market serves as industrial manufacturers and other customers for packaging, material handling and other applications.
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