Universal Forest Products (NASDAQ:UFPI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Universal Forest Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 19th. BMO Capital Markets assumed coverage on shares of Universal Forest Products in a research report on Tuesday, October 17th. They issued a “market perform” rating and a $36.67 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $39.17.
Universal Forest Products (NASDAQ:UFPI) opened at $38.37 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.40. Universal Forest Products has a 52-week low of $25.93 and a 52-week high of $39.58. The stock has a market cap of $2,347.25, a PE ratio of 21.60, a PEG ratio of 1.75 and a beta of 1.84.
A number of large investors have recently modified their holdings of UFPI. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Universal Forest Products in the 2nd quarter valued at about $381,000. Wells Fargo & Company MN lifted its position in Universal Forest Products by 54.2% in the 2nd quarter. Wells Fargo & Company MN now owns 95,182 shares of the construction company’s stock valued at $8,309,000 after purchasing an additional 33,436 shares during the last quarter. Riverhead Capital Management LLC lifted its position in Universal Forest Products by 77.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,598 shares of the construction company’s stock valued at $140,000 after purchasing an additional 698 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in Universal Forest Products by 6.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 164,037 shares of the construction company’s stock valued at $14,322,000 after purchasing an additional 10,592 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Universal Forest Products by 2.6% in the 2nd quarter. BlackRock Inc. now owns 3,268,039 shares of the construction company’s stock valued at $285,334,000 after purchasing an additional 82,962 shares during the last quarter. Hedge funds and other institutional investors own 26.69% of the company’s stock.
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Universal Forest Products Company Profile
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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