Wall Street analysts expect that Universal Forest Products, Inc. (NASDAQ:UFPI) will post $1.20 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Universal Forest Products’ earnings. The lowest sales estimate is $1.19 billion and the highest is $1.21 billion. Universal Forest Products posted sales of $1.06 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.2%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, October 16th.
On average, analysts expect that Universal Forest Products will report full-year sales of $4.54 billion for the current year. For the next year, analysts forecast that the firm will report sales of $4.76 billion per share, with estimates ranging from $4.71 billion to $4.81 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Universal Forest Products.
Universal Forest Products (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, July 18th. The construction company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.02). Universal Forest Products had a return on equity of 13.07% and a net margin of 3.29%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. Universal Forest Products’s revenue was up 20.7% compared to the same quarter last year.
UFPI has been the topic of several research analyst reports. Seaport Global Securities initiated coverage on shares of Universal Forest Products in a research note on Friday, August 3rd. They set a “buy” rating and a $47.00 price target on the stock. BidaskClub lowered shares of Universal Forest Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 15th. ValuEngine upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, Zacks Investment Research upgraded shares of Universal Forest Products from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $41.33.
NASDAQ:UFPI traded up $0.23 during midday trading on Friday, hitting $37.59. 201,800 shares of the company were exchanged, compared to its average volume of 285,161. Universal Forest Products has a fifty-two week low of $28.76 and a fifty-two week high of $39.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.00 and a quick ratio of 1.57. The firm has a market capitalization of $2.32 billion, a P/E ratio of 20.23, a P/E/G ratio of 3.04 and a beta of 1.86.
In other Universal Forest Products news, insider Patrick M. Benton sold 6,243 shares of Universal Forest Products stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $37.20, for a total value of $232,239.60. Following the transaction, the insider now directly owns 64,385 shares in the company, valued at $2,395,122. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert D. Coleman sold 5,000 shares of Universal Forest Products stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $37.54, for a total transaction of $187,700.00. Following the completion of the transaction, the executive vice president now owns 5,040 shares in the company, valued at $189,201.60. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its stake in Universal Forest Products by 82.8% in the second quarter. Moneta Group Investment Advisors LLC now owns 4,615 shares of the construction company’s stock valued at $169,000 after purchasing an additional 2,090 shares during the period. Zacks Investment Management acquired a new position in Universal Forest Products in the second quarter valued at $2,254,000. Hilltop Holdings Inc. acquired a new position in Universal Forest Products in the second quarter valued at $463,000. Macquarie Group Ltd. increased its stake in Universal Forest Products by 111.8% in the second quarter. Macquarie Group Ltd. now owns 7,200 shares of the construction company’s stock valued at $264,000 after purchasing an additional 3,800 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in Universal Forest Products in the second quarter valued at $119,000. Institutional investors own 79.81% of the company’s stock.
About Universal Forest Products
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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