Zacks: UFP Technologies, Inc. (NASDAQ:UFPT) Given Consensus Rating of “Strong Buy” by Brokerages

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokers have set a 12-month consensus target price of $44.00 for the company and are forecasting that the company will post $0.57 earnings per share for the current quarter, according to Zacks. Zacks has also assigned UFP Technologies an industry rank of 110 out of 256 based on the ratings given to related companies.

Several equities analysts recently weighed in on UFPT shares. ValuEngine lowered shares of UFP Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Zacks Investment Research lowered shares of UFP Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, BidaskClub upgraded shares of UFP Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, June 12th.

NASDAQ UFPT traded up $0.08 during trading hours on Friday, hitting $41.12. The company’s stock had a trading volume of 26,100 shares, compared to its average volume of 27,458. The stock has a fifty day moving average of $41.88 and a 200 day moving average of $37.57. UFP Technologies has a twelve month low of $27.80 and a twelve month high of $46.42. The firm has a market capitalization of $304.86 million, a P/E ratio of 19.58 and a beta of 0.54. The company has a quick ratio of 1.88, a current ratio of 2.77 and a debt-to-equity ratio of 0.11.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. UFP Technologies had a net margin of 8.56% and a return on equity of 11.84%. The business had revenue of $51.40 million for the quarter, compared to analyst estimates of $51.50 million. On average, analysts predict that UFP Technologies will post 2.22 earnings per share for the current year.

In related news, CEO R Jeffrey Bailly sold 1,966 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $38.57, for a total value of $75,828.62. Following the transaction, the chief executive officer now directly owns 476,879 shares in the company, valued at $18,393,223.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 16,219 shares of company stock worth $626,302 over the last 90 days. 11.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GW&K Investment Management LLC acquired a new stake in UFP Technologies in the second quarter worth $6,814,000. Polar Asset Management Partners Inc. raised its holdings in UFP Technologies by 302.9% in the second quarter. Polar Asset Management Partners Inc. now owns 201,071 shares of the industrial products company’s stock worth $8,367,000 after purchasing an additional 151,161 shares during the period. FMR LLC raised its holdings in UFP Technologies by 61.0% in the first quarter. FMR LLC now owns 202,001 shares of the industrial products company’s stock worth $7,555,000 after purchasing an additional 76,557 shares during the period. BlackRock Inc. raised its holdings in UFP Technologies by 17.2% in the second quarter. BlackRock Inc. now owns 419,673 shares of the industrial products company’s stock worth $17,462,000 after purchasing an additional 61,634 shares during the period. Finally, Vanguard Group Inc. raised its holdings in UFP Technologies by 13.9% in the second quarter. Vanguard Group Inc. now owns 391,778 shares of the industrial products company’s stock worth $16,301,000 after purchasing an additional 47,901 shares during the period. Institutional investors and hedge funds own 74.10% of the company’s stock.

About UFP Technologies

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. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.

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