UFP Industries (NASDAQ:UFPI) Announces Quarterly Earnings Results, Misses Expectations By $0.25 EPS

UFP Industries (NASDAQ:UFPI) issued its quarterly earnings results on Monday. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25), Briefing.com reports. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company earned $2.10 EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis.

UFP Industries Price Performance

NASDAQ:UFPI opened at $122.35 on Tuesday. UFP Industries has a 12-month low of $90.62 and a 12-month high of $139.54. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 16.36 and a beta of 1.39. The company’s 50-day moving average is $126.73 and its two-hundred day moving average is $120.47. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UFPI. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. BMO Capital Markets boosted their target price on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Benchmark lifted their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wedbush raised shares of UFP Industries from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $120.00 to $155.00 in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, UFP Industries has an average rating of “Moderate Buy” and an average target price of $139.60.

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.