UFP Technologies (NASDAQ:UFPT) Earns Market Perform Rating from Analysts at Raymond James

Raymond James started coverage on shares of UFP Technologies (NASDAQ:UFPT) in a report issued on Friday, MarketBeat.com reports. The brokerage issued a market perform rating on the industrial products company’s stock.

Separately, StockNews.com cut UFP Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd.

UFP Technologies Stock Performance

NASDAQ:UFPT opened at $199.32 on Friday. The company has a fifty day moving average of $241.95 and a two-hundred day moving average of $273.76. UFP Technologies has a fifty-two week low of $198.10 and a fifty-two week high of $366.41. The stock has a market capitalization of $1.53 billion, a PE ratio of 28.43 and a beta of 1.15. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.45. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The firm had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million.

Insider Transactions at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the completion of the sale, the director now directly owns 1,785 shares in the company, valued at $407,711.85. This represents a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.17% of the company’s stock.

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors have recently added to or reduced their stakes in UFPT. Wasatch Advisors LP increased its stake in shares of UFP Technologies by 65.4% in the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock worth $133,188,000 after acquiring an additional 166,262 shares during the last quarter. Boston Trust Walden Corp purchased a new stake in shares of UFP Technologies in the fourth quarter valued at about $26,395,000. Raymond James Financial Inc. acquired a new stake in UFP Technologies during the fourth quarter worth about $16,808,000. Price T Rowe Associates Inc. MD raised its stake in UFP Technologies by 55.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company’s stock worth $43,625,000 after purchasing an additional 63,899 shares during the period. Finally, Royal Bank of Canada boosted its holdings in UFP Technologies by 508.8% in the 4th quarter. Royal Bank of Canada now owns 69,145 shares of the industrial products company’s stock valued at $16,907,000 after purchasing an additional 57,787 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Company Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.