DA Davidson Decreases Earnings Estimates for UFP Industries

UFP Industries, Inc. (NASDAQ:UFPI) – DA Davidson cut their Q3 2024 earnings per share (EPS) estimates for shares of UFP Industries in a report issued on Thursday, October 24th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $1.71 per share for the quarter, down from their previous estimate of $1.72. The consensus estimate for UFP Industries’ current full-year earnings is $7.29 per share. DA Davidson also issued estimates for UFP Industries’ FY2024 earnings at $7.10 EPS and FY2025 earnings at $7.88 EPS.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $2.36 earnings per share. The business’s revenue was down 6.9% on a year-over-year basis.

UFPI has been the topic of several other reports. Benchmark raised their price target on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their target price on shares of UFP Industries from $125.00 to $157.00 and gave the stock 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 report on Friday, July 5th. BMO Capital Markets raised their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Wedbush raised shares of UFP Industries from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $120.00 to $155.00 in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.60.

UFP Industries Trading Down 0.5 %

Shares of UFPI stock opened at $130.17 on Monday. UFP Industries has a fifty-two week low of $90.62 and a fifty-two week high of $139.54. The firm has a market capitalization of $8.04 billion, a P/E ratio of 16.19 and a beta of 1.39. The stock’s fifty day moving average is $126.49 and its two-hundred day moving average is $120.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34.

Hedge Funds Weigh In On UFP Industries

Several large investors have recently modified their holdings of the business. Foundry Partners LLC increased its position in shares of UFP Industries by 13.1% during the 1st quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock worth $4,811,000 after purchasing an additional 4,526 shares during the last quarter. Nordea Investment Management AB lifted its position in UFP Industries by 28.6% in the first quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock valued at $14,150,000 after buying an additional 25,508 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in UFP Industries by 299.5% during the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after buying an additional 4,597 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of UFP Industries during the first quarter valued at about $1,214,000. Finally, Empowered Funds LLC raised its stake in shares of UFP Industries by 14.9% in the 1st quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after acquiring an additional 7,320 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

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.