UFP Technologies (NASDAQ:UFPT) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of UFP Technologies (NASDAQ:UFPT) from a sell rating to a hold rating in a report released on Friday, BidAskClub reports.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research raised UFP Technologies from a strong sell rating to a hold rating in a research note on Wednesday, July 15th. Taglich Brothers reaffirmed a buy rating on shares of UFP Technologies in a research note on Tuesday, September 1st.

Shares of NASDAQ UFPT opened at $38.94 on Friday. The stock has a market cap of $291.86 million, a price-to-earnings ratio of 16.57 and a beta of 0.79. The company has a current ratio of 3.86, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. UFP Technologies has a 1-year low of $30.80 and a 1-year high of $52.59. The stock’s 50-day moving average is $42.34 and its 200 day moving average is $42.87.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.11. The company had revenue of $42.64 million for the quarter, compared to analysts’ expectations of $43.70 million. UFP Technologies had a return on equity of 10.79% and a net margin of 9.25%. On average, analysts forecast that UFP Technologies will post 1.64 EPS for the current fiscal year.

In other news, VP Daniel J. Shaw sold 7,759 shares of UFP Technologies stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $40.80, for a total value of $316,567.20. Following the sale, the vice president now directly owns 12,274 shares in the company, valued at approximately $500,779.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Oberdorf sold 7,589 shares of UFP Technologies stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $43.86, for a total value of $332,853.54. Following the completion of the sale, the director now owns 51,968 shares in the company, valued at $2,279,316.48. The disclosure for this sale can be found here. 10.14% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in shares of UFP Technologies by 34.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,092 shares of the industrial products company’s stock worth $80,000 after buying an additional 536 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of UFP Technologies by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 17,997 shares of the industrial products company’s stock worth $793,000 after buying an additional 548 shares during the last quarter. Royal Bank of Canada boosted its position in shares of UFP Technologies by 1.3% during the first quarter. Royal Bank of Canada now owns 48,502 shares of the industrial products company’s stock valued at $1,848,000 after purchasing an additional 628 shares in the last quarter. Citigroup Inc. boosted its position in shares of UFP Technologies by 51.4% during the first quarter. Citigroup Inc. now owns 2,166 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 735 shares in the last quarter. Finally, Martingale Asset Management L P boosted its position in shares of UFP Technologies by 1.7% during the first quarter. Martingale Asset Management L P now owns 46,604 shares of the industrial products company’s stock valued at $1,776,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 77.26% 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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