Universal Forest Products (UFPI) Downgraded to Hold at BidaskClub

Universal Forest Products (NASDAQ:UFPI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

A number of other equities research analysts have also weighed in on the stock. ValuEngine upgraded shares of Universal Forest Products from a “strong sell” rating to a “sell” rating in a report on Thursday, February 28th. Zacks Investment Research lowered shares of Universal Forest Products from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th.

Shares of UFPI opened at $33.82 on Wednesday. Universal Forest Products has a 1-year low of $24.14 and a 1-year high of $39.41. The stock has a market cap of $2.10 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.54 and a beta of 1.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 1.63.

Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Universal Forest Products had a net margin of 3.35% and a return on equity of 13.90%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts forecast that Universal Forest Products will post 2.79 EPS for the current fiscal year.

In other news, insider Allen T. Peters sold 8,131 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $30.25, for a total value of $245,962.75. Following the completion of the sale, the insider now owns 116,763 shares in the company, valued at approximately $3,532,080.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert D. Coleman sold 10,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $35.34, for a total transaction of $353,400.00. Following the completion of the sale, the executive vice president now owns 1,200 shares of the company’s stock, valued at approximately $42,408. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,511 shares of company stock valued at $2,341,068. Company insiders own 3.77% of the company’s stock.

Several large investors have recently bought and sold shares of UFPI. Norges Bank bought a new stake in shares of Universal Forest Products in the 4th quarter valued at about $24,130,000. Victory Capital Management Inc. raised its holdings in shares of Universal Forest Products by 19.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,240,277 shares of the construction company’s stock valued at $58,158,000 after purchasing an additional 360,027 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Universal Forest Products by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,745,377 shares of the construction company’s stock valued at $123,190,000 after purchasing an additional 285,891 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Universal Forest Products by 14.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,067,593 shares of the construction company’s stock valued at $31,910,000 after purchasing an additional 136,112 shares in the last quarter. Finally, Hillcrest Asset Management LLC raised its holdings in shares of Universal Forest Products by 35.7% in the 1st quarter. Hillcrest Asset Management LLC now owns 395,108 shares of the construction company’s stock valued at $11,810,000 after purchasing an additional 104,006 shares in the last quarter. Institutional investors and hedge funds own 81.29% of the company’s stock.

Universal Forest Products Company Profile

Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood and wood composite decking and related accessories, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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