Taglich Brothers Reaffirms Buy Rating for UFP Technologies (UFPT)

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UFP Technologies (NASDAQ:UFPT)‘s stock had its “buy” rating reissued by Taglich Brothers in a research note issued on Wednesday. Taglich Brothers also issued estimates for UFP Technologies’ Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.12 EPS and Q3 2019 earnings at $0.68 EPS.

Separately, ValuEngine raised shares of UFP Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th.

UFPT stock opened at $35.30 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.83 and a debt-to-equity ratio of 0.28. The company has a market cap of $262.74 million, a P/E ratio of 28.24 and a beta of 0.06. UFP Technologies has a 52 week low of $25.88 and a 52 week high of $37.25.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.50 by $0.04. The business had revenue of $49.02 million during the quarter, compared to analysts’ expectations of $49.50 million. UFP Technologies had a net margin of 6.17% and a return on equity of 9.11%. analysts anticipate that UFP Technologies will post 2.03 earnings per share for the current year.

In related news, VP W David Smith sold 7,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $34.58, for a total transaction of $251,949.88. Following the transaction, the vice president now owns 19,837 shares of the company’s stock, valued at $685,963.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of UFPT. Acadian Asset Management LLC raised its position in UFP Technologies by 137.0% during the second quarter. Acadian Asset Management LLC now owns 7,337 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 4,241 shares in the last quarter. First Trust Advisors LP bought a new position in shares of UFP Technologies in the second quarter valued at approximately $231,000. Wells Fargo & Company MN raised its position in shares of UFP Technologies by 19.8% in the fourth quarter. Wells Fargo & Company MN now owns 10,730 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 1,773 shares during the period. Deutsche Bank AG raised its position in shares of UFP Technologies by 141.6% in the fourth quarter. Deutsche Bank AG now owns 14,843 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 8,699 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of UFP Technologies by 9.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 22,796 shares of the industrial products company’s stock valued at $672,000 after purchasing an additional 1,987 shares during the period. 68.73% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Company Profile

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. The company offers medical devices and components, disposable wound care components, automotive interior trims, athletic paddings, abrasive nail files and other beauty aids, air filtration products, high-temperature insulations, military uniform and gear components, and cushion packaging products.

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