UFP Technologies (UFPT) Upgraded to Hold at Zacks Investment Research

UFP Technologies (NASDAQ:UFPT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Other analysts also recently issued reports about the company. ValuEngine upgraded UFP Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. BidaskClub cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th.

UFP Technologies stock traded down $0.30 during trading hours on Thursday, reaching $38.00. 2,369 shares of the company’s stock were exchanged, compared to its average volume of 14,759. The company has a current ratio of 2.90, a quick ratio of 1.88 and a debt-to-equity ratio of 0.15. UFP Technologies has a twelve month low of $27.80 and a twelve month high of $39.98. The company has a market cap of $283.44 million, a P/E ratio of 18.10 and a beta of 0.48.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The firm had revenue of $47.33 million during the quarter, compared to the consensus estimate of $45.10 million. UFP Technologies had a return on equity of 11.79% and a net margin of 8.35%. Equities research analysts forecast that UFP Technologies will post 2.13 EPS for the current fiscal year.

In related news, VP Mitchell Rock sold 17,099 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $32.94, for a total value of $563,241.06. Following the transaction, the vice president now owns 25,506 shares of the company’s stock, valued at approximately $840,167.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in UFPT. Quantum Capital Management grew its stake in UFP Technologies by 0.7% in the 1st quarter. Quantum Capital Management now owns 47,689 shares of the industrial products company’s stock valued at $1,784,000 after buying an additional 335 shares in the last quarter. Wells Fargo & Company MN grew its stake in UFP Technologies by 8.2% in the 1st quarter. Wells Fargo & Company MN now owns 12,286 shares of the industrial products company’s stock valued at $459,000 after buying an additional 927 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in UFP Technologies by 545.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,387 shares of the industrial products company’s stock valued at $52,000 after buying an additional 1,172 shares in the last quarter. Acadian Asset Management LLC grew its stake in UFP Technologies by 13.1% in the 1st quarter. Acadian Asset Management LLC now owns 11,430 shares of the industrial products company’s stock valued at $428,000 after buying an additional 1,320 shares in the last quarter. Finally, Northern Trust Corp grew its stake in UFP Technologies by 1.9% in the 1st quarter. Northern Trust Corp now owns 91,412 shares of the industrial products company’s stock valued at $3,419,000 after buying an additional 1,722 shares in the last quarter. 70.05% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Company Profile

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.

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