Wedbush Brokers Reduce Earnings Estimates for UFP Industries

UFP Industries, Inc. (NASDAQ:UFPI) – Wedbush reduced their FY2024 earnings estimates for UFP Industries in a research note issued on Monday, November 4th. Wedbush analyst J. Mccanless now expects that the construction company will earn $6.90 per share for the year, down from their previous forecast of $7.40. Wedbush has a “Outperform” rating and a $155.00 price target on the stock. The consensus estimate for UFP Industries’ current full-year earnings is $7.18 per share. Wedbush also issued estimates for UFP Industries’ Q4 2024 earnings at $1.25 EPS, Q1 2025 earnings at $1.69 EPS, Q2 2025 earnings at $2.13 EPS, Q3 2025 earnings at $1.92 EPS, FY2025 earnings at $7.37 EPS, Q1 2026 earnings at $1.84 EPS, Q2 2026 earnings at $2.28 EPS, Q3 2026 earnings at $2.08 EPS and FY2026 earnings at $7.93 EPS.

Several other equities research analysts have also recently weighed in on the stock. Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted 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, Stifel Nicolaus boosted their target price on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Trading Up 1.8 %

UFPI opened at $126.06 on Wednesday. UFP Industries has a twelve month low of $100.25 and a twelve month high of $139.54. The company has a 50-day simple moving average of $126.96 and a 200 day simple moving average of $120.91. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 17.34 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the company earned $2.10 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UFPI. UMB Bank n.a. increased its stake in shares of 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 during the period. Headlands Technologies LLC acquired a new position in shares of UFP Industries in the second quarter valued at approximately $29,000. Signaturefd LLC increased its stake in shares of UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after buying an additional 76 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of UFP Industries in the second quarter valued at approximately $56,000. Finally, GAMMA Investing LLC increased its stake in shares of UFP Industries by 84.2% in the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s payout ratio is 18.16%.

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.