Universal Forest Products, Inc. (UFPI) announced its quarterly results on Wednesday. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.18. The company’s quarterly revenue was down 14.8% on a year-over-year basis.
On a related note, analysts at Zacks Investment Research downgraded shares of Universal Forest Products, Inc. from a "neutral" rating to an "underperform" rating in a research note to investors on Tuesday, February 22nd. They now have a $32.00 price target on the stock. Also, analysts at DA Davidson downgraded shares of Universal Forest Products, Inc. from a "buy" rating to a "neutral" rating in a research note to investors on Tuesday, January 4th. They now have a $42.00 price target on the stock, up previously from $38.00.
Shares of Universal Forest Products, Inc. (UFPI) traded down 0.29% during mid-day trading on Wednesday, hitting $24.07. Universal Forest Products, Inc. (UFPI) has a 52 week low of $23.14 and a 52 week high of $39.84. The stock's 50-day moving average is $26.40 and its 200-day moving average is $33.2. The company has a market cap of $469.9 million and a price-to-earnings ratio of 36.97.
Universal Forest Products, Inc. is a holding company. The Company’s subsidiaries design, manufacture and market wood and wood-alternative products for do-it-yourself (DIY)/retail home centers and other retailers, structural lumber products for the manufactured housing industry, engineered wood components for the site-built construction market, and specialty wood packaging and components for various industries. The Company’s consumer products subsidiary offers a portfolio of outdoor living products, including wood composite decking, decorative balusters, post caps and plastic lattice, and its garden group offers a range of products, such as trellises and arches, to retailers worldwide. Its subsidiaries also provide framing services for the site-built market and forming products for concrete construction. The Company engineers, manufactures, treats, distributes and installs lumber, composite wood, plastic and other building products for markets, including the DIY/retail.
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