UFP Industries (NASDAQ:UFPI) Raised to Outperform at Wedbush

Wedbush upgraded shares of UFP Industries (NASDAQ:UFPI) from a neutral rating to an outperform rating in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $155.00 price objective on the construction company’s stock, up from their previous price objective of $120.00. Wedbush also issued estimates for UFP Industries’ Q3 2024 earnings at $1.93 EPS, Q4 2024 earnings at $1.46 EPS, FY2024 earnings at $7.40 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $2.28 EPS, Q3 2025 earnings at $2.07 EPS, Q4 2025 earnings at $1.55 EPS, FY2025 earnings at $7.72 EPS, Q1 2026 earnings at $1.95 EPS, Q2 2026 earnings at $2.40 EPS, Q3 2026 earnings at $2.16 EPS and FY2026 earnings at $8.13 EPS.

A number of other research analysts have also weighed in on UFPI. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a buy rating in a research note on Wednesday, July 31st. StockNews.com lowered UFP Industries from a strong-buy rating to a buy rating in a research note on Friday, July 5th. BMO Capital Markets lifted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a market perform rating in a research report on Wednesday, July 31st. Finally, Benchmark upped their target price on UFP Industries from $133.00 to $155.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $139.60.

UFP Industries Stock Performance

Shares of UFPI stock opened at $134.55 on Tuesday. UFP Industries has a one year low of $90.62 and a one year high of $137.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. The business’s 50 day simple moving average is $123.16 and its 200 day simple moving average is $119.29. The stock has a market capitalization of $8.31 billion, a PE ratio of 16.74 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 EPS. As a group, research analysts forecast that UFP Industries will post 7.27 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a yield of 0.98%. UFP Industries’s dividend payout ratio (DPR) is 16.42%.

Institutional Investors Weigh In On UFP Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in UFP Industries by 300.0% in the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares during the period. Headlands Technologies LLC bought a new position in shares of UFP Industries in the second quarter worth about $29,000. Opal Wealth Advisors LLC purchased a new stake in shares of UFP Industries in the first quarter valued at approximately $33,000. Rise Advisors LLC purchased a new stake in UFP Industries in the first quarter worth about $33,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of UFP Industries during the 2nd quarter worth $56,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

About UFP Industries

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.