Seaport Global Securities initiated coverage on shares of Universal Forest Products (NASDAQ:UFPI) in a research report sent to investors on Friday morning, Marketbeat reports. The firm issued a buy rating and a $47.00 target price on the construction company’s stock.

Several other brokerages have also commented on UFPI. Zacks Investment Research lowered shares of Universal Forest Products from a hold rating to a sell rating in a report on Saturday, June 30th. ValuEngine raised shares of Universal Forest Products from a sell rating to a hold rating in a report on Tuesday, May 29th. Finally, BidaskClub raised shares of Universal Forest Products from a sell rating to a hold rating in a report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $41.33.

Universal Forest Products opened at $36.70 on Friday, according to Marketbeat. The company has a quick ratio of 1.57, a current ratio of 3.00 and a debt-to-equity ratio of 0.26. Universal Forest Products has a 1 year low of $25.93 and a 1 year high of $39.58. The firm has a market capitalization of $2.25 billion, a P/E ratio of 19.88, a PEG ratio of 2.95 and a beta of 1.91.

Universal Forest Products (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, July 18th. The construction company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.02). The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Universal Forest Products had a return on equity of 13.07% and a net margin of 3.29%. Universal Forest Products’s revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 EPS. equities research analysts forecast that Universal Forest Products will post 2.48 earnings per share for the current fiscal year.

In related news, COO Patrick M. Webster sold 12,881 shares of the business’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $38.76, for a total value of $499,267.56. Following the completion of the sale, the chief operating officer now owns 201,560 shares of the company’s stock, valued at approximately $7,812,465.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP increased its holdings in Universal Forest Products by 267.4% in the 1st quarter. Quantbot Technologies LP now owns 3,310 shares of the construction company’s stock worth $107,000 after acquiring an additional 2,409 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Universal Forest Products by 202.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,420 shares of the construction company’s stock worth $109,000 after acquiring an additional 2,289 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Universal Forest Products by 179.0% in the 1st quarter. Meeder Asset Management Inc. now owns 3,962 shares of the construction company’s stock worth $129,000 after acquiring an additional 2,542 shares in the last quarter. Silvant Capital Management LLC purchased a new stake in shares of Universal Forest Products during the first quarter worth $182,000. Finally, LPL Financial LLC purchased a new stake in shares of Universal Forest Products during the fourth quarter worth $210,000. 78.42% of the stock is owned by institutional investors.

Universal Forest Products Company Profile

Universal Forest Products, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. The company offers preserved and unpreserved dimensional lumber; outdoor living products, including wood composite decking, and decorative lawn and garden products; and engineered wood components, which include roof and floor trusses, wall panels, engineered floor systems, I-joists, and lumber packages.

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