FY2024 EPS Estimates for UFP Industries Cut by DA Davidson

UFP Industries, Inc. (NASDAQ:UFPI) – Investment analysts at DA Davidson reduced their FY2024 EPS estimates for shares of UFP Industries in a note issued to investors on Wednesday, October 30th. DA Davidson analyst K. Yinger now anticipates that the construction company will earn $6.83 per share for the year, down from their prior estimate of $7.10. The consensus estimate for UFP Industries’ current full-year earnings is $7.27 per share. DA Davidson also issued estimates for UFP Industries’ FY2025 earnings at $7.51 EPS.

Several other research analysts have also recently commented on UFPI. BMO Capital Markets raised their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Wedbush raised UFP Industries from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $120.00 to $155.00 in a report on Tuesday, October 8th. Benchmark boosted their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.60.

UFP Industries Trading Down 0.5 %

Shares of UFP Industries stock opened at $122.39 on Thursday. UFP Industries has a 52-week low of $90.62 and a 52-week high of $139.54. The stock has a market cap of $7.56 billion, a PE ratio of 15.22 and a beta of 1.39. The firm has a 50-day moving average of $126.83 and a 200-day moving average of $120.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. UFP Industries’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.10 EPS.

Institutional Investors Weigh In On UFP Industries

A number of hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. boosted its position in UFP Industries by 300.0% in the third quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock valued at $25,000 after buying an additional 144 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of UFP Industries in the 2nd quarter valued at $29,000. Signaturefd LLC boosted its holdings in shares of UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after acquiring an additional 76 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in UFP Industries during the 2nd quarter worth $56,000. Finally, GAMMA Investing LLC increased its holdings in UFP Industries by 84.2% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after purchasing an additional 234 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.08%. UFP Industries’s dividend payout ratio (DPR) is currently 16.42%.

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.