UFP Technologies (NASDAQ:UFPT) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of UFP Technologies (NASDAQ:UFPT) from a buy rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Several other analysts also recently issued reports on UFPT. BidaskClub downgraded UFP Technologies from a hold rating to a sell rating in a research note on Friday, September 6th. ValuEngine downgraded UFP Technologies from a hold rating to a sell rating in a research note on Wednesday, October 16th.

UFPT stock traded down $0.49 during midday trading on Friday, reaching $39.50. 31,700 shares of the company’s stock traded hands, compared to its average volume of 15,303. The company has a 50-day simple moving average of $40.04 and a two-hundred day simple moving average of $39.72. The company has a quick ratio of 1.86, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. The company has a market cap of $297.05 million, a price-to-earnings ratio of 18.81 and a beta of 0.57. UFP Technologies has a 1-year low of $27.80 and a 1-year high of $46.42.

UFP Technologies (NASDAQ:UFPT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. UFP Technologies had a return on equity of 11.84% and a net margin of 8.56%. The firm had revenue of $51.40 million for the quarter, compared to analyst estimates of $51.50 million. Equities research analysts forecast that UFP Technologies will post 2.27 EPS for the current year.

In other UFP Technologies news, Director Marc D. Kozin sold 2,610 shares of UFP Technologies stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $39.92, for a total value of $104,191.20. Following the sale, the director now owns 34,176 shares of the company’s stock, valued at approximately $1,364,305.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. raised its stake in shares of UFP Technologies by 335.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,050 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 2,350 shares during the period. Rhumbline Advisers increased its position in shares of UFP Technologies by 8.5% in the third quarter. Rhumbline Advisers now owns 10,015 shares of the industrial products company’s stock valued at $387,000 after acquiring an additional 783 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of UFP Technologies in the second quarter valued at about $406,000. Acadian Asset Management LLC increased its position in shares of UFP Technologies by 22.9% in the second quarter. Acadian Asset Management LLC now owns 14,048 shares of the industrial products company’s stock valued at $584,000 after acquiring an additional 2,618 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of UFP Technologies by 3.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 17,484 shares of the industrial products company’s stock valued at $728,000 after acquiring an additional 605 shares during the last quarter. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

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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