Universal Forest Products, Inc. (UFPI) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS
Universal Forest Products, Inc. (NASDAQ:UFPI) issued its earnings results on Tuesday. The construction company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.08, RTT News reports. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $984.99 million. Universal Forest Products had a return on equity of 12.24% and a net margin of 2.85%. Universal Forest Products’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 EPS.
Universal Forest Products (UFPI) opened at 105.57 on Thursday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 20.94 and a beta of 1.84. Universal Forest Products has a 12 month low of $77.80 and a 12 month high of $108.79. The stock has a 50 day moving average price of $94.50 and a 200 day moving average price of $89.97.
Several research firms have weighed in on UFPI. BMO Capital Markets began coverage on Universal Forest Products in a report on Tuesday. They issued a “market perform” rating and a $110.00 price objective for the company. BidaskClub cut Universal Forest Products from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Universal Forest Products from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, Sidoti began coverage on Universal Forest Products in a report on Tuesday, July 25th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $110.00.
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In related news, insider Patrick M. Webster sold 996 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $88.93, for a total value of $88,574.28. Following the completion of the sale, the insider now owns 58,919 shares in the company, valued at $5,239,666.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick M. Webster sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $88.80, for a total value of $133,200.00. Following the completion of the sale, the insider now owns 59,915 shares of the company’s stock, valued at approximately $5,320,452. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
About Universal Forest Products
Universal Forest Products, Inc is a holding company. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. Its segments include North, South, West, Alternative Materials, International, idX Holdings, Inc (idX) and Corporate divisions.
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