UFP Industries (NASDAQ:UFPI) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

UFP Industries (NASDAQ:UFPI) issued its quarterly earnings data on Tuesday. The construction company reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02, Briefing.com reports. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. UFP Industries’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.36 earnings per share.

UFP Industries Stock Down 1.5 %

UFPI stock traded down $2.08 during trading on Wednesday, hitting $133.26. 46,252 shares of the stock traded hands, compared to its average volume of 287,174. UFP Industries has a 1 year low of $90.62 and a 1 year high of $136.14. The firm’s 50 day moving average is $116.72 and its two-hundred day moving average is $116.40. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 16.44 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37.

Insider Activity at UFP Industries

In related news, CFO Michael R. Cole sold 1,452 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $119.28, for a total transaction of $173,194.56. Following the sale, the chief financial officer now directly owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Michael R. Cole sold 1,452 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the transaction, the chief financial officer now owns 165,155 shares of the company’s stock, valued at $19,699,688.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Patrick M. Benton sold 11,725 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the transaction, the insider now directly owns 97,729 shares in the company, valued at approximately $11,265,221.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,687 shares of company stock valued at $3,831,653. 2.58% of the stock is owned by insiders.

Analyst Ratings Changes

UFPI has been the subject of a number of research reports. Benchmark cut their price target on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Wedbush reiterated a “neutral” rating and set a $120.00 price target (up from $102.00) on shares of UFP Industries in a report on Tuesday. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Finally, BMO Capital Markets upped their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

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.