Universal Forest Products, Inc. (NASDAQ:UFPI) - Equities research analysts at DA Davidson cut their Q3 2017 earnings per share estimates for shares of Universal Forest Products in a report released on Wednesday. DA Davidson analyst S. Chercover now anticipates that the construction company will earn $1.43 per share for the quarter, down from their prior forecast of $1.75. DA Davidson also issued estimates for Universal Forest Products’ FY2017 earnings at $5.24 EPS and FY2018 earnings at $6.01 EPS.
Universal Forest Products (NASDAQ:UFPI) last released its earnings results on Tuesday, July 18th. The construction company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by $0.21. Universal Forest Products had a net margin of 2.86% and a return on equity of 11.73%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $1.64 EPS. Universal Forest Products’s revenue was up 23.0% compared to the same quarter last year.
UFPI has been the subject of several other research reports. Zacks Investment Research lowered Universal Forest Products from a “buy” rating to a “hold” rating in a report on Friday, June 9th. ValuEngine lowered Universal Forest Products from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised Universal Forest Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th.
Universal Forest Products (NASDAQ:UFPI) opened at 84.79 on Monday. The stock has a 50 day moving average price of $87.67 and a 200-day moving average price of $94.91. Universal Forest Products has a 12 month low of $83.24 and a 12 month high of $110.97. The stock has a market cap of $1.74 billion, a PE ratio of 16.83 and a beta of 1.89.
Hedge funds have recently made changes to their positions in the company. Capital One National Association boosted its position in shares of Universal Forest Products by 0.9% in the first quarter. Capital One National Association now owns 6,213 shares of the construction company’s stock worth $612,000 after buying an additional 58 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Universal Forest Products by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 28,319 shares of the construction company’s stock worth $2,788,000 after buying an additional 1,745 shares in the last quarter. Bowling Portfolio Management LLC boosted its stake in Universal Forest Products by 29.6% in the first quarter. Bowling Portfolio Management LLC now owns 8,078 shares of the construction company’s stock worth $796,000 after buying an additional 1,847 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Universal Forest Products by 28.7% in the first quarter. Wells Fargo & Company MN now owns 61,746 shares of the construction company’s stock worth $6,084,000 after buying an additional 13,760 shares in the last quarter. Finally, Hillcrest Asset Management LLC boosted its stake in Universal Forest Products by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 106,967 shares of the construction company’s stock worth $10,541,000 after buying an additional 7,867 shares in the last quarter. Institutional investors own 81.34% of the company’s stock.
About Universal Forest Products
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.
Receive News & Ratings for Universal Forest Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Forest Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
