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

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price target of $50.00 for the company and are forecasting that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also assigned UFP Technologies an industry rank of 77 out of 254 based on the ratings given to related companies.

Several analysts have recently issued reports on the company. BidaskClub downgraded UFP Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded UFP Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, ValuEngine upgraded UFP Technologies from a “sell” rating to a “hold” rating in a research report on Monday, March 30th.

In other news, Director Marc D. Kozin sold 4,933 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $46.06, for a total value of $227,213.98. Following the transaction, the director now directly owns 45,337 shares in the company, valued at approximately $2,088,222.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of UFP Technologies by 18.0% in the fourth quarter. Citigroup Inc. now owns 1,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 218 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of UFP Technologies by 34.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,092 shares of the industrial products company’s stock valued at $80,000 after buying an additional 536 shares in the last quarter. IndexIQ Advisors LLC acquired a new stake in shares of UFP Technologies in the first quarter valued at about $193,000. Alliancebernstein L.P. acquired a new stake in shares of UFP Technologies in the fourth quarter valued at about $203,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of UFP Technologies in the fourth quarter valued at about $205,000. Institutional investors own 74.29% of the company’s stock.

Shares of NASDAQ:UFPT traded up $0.89 on Friday, hitting $43.67. The company had a trading volume of 11,839 shares, compared to its average volume of 36,619. The company has a current ratio of 3.42, a quick ratio of 2.26 and a debt-to-equity ratio of 0.01. UFP Technologies has a 52-week low of $30.80 and a 52-week high of $52.59. The business has a 50 day moving average of $41.44 and a 200 day moving average of $44.82. The company has a market cap of $320.12 million, a PE ratio of 16.42 and a beta of 0.78.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings data on Tuesday, May 5th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.02). UFP Technologies had a net margin of 9.99% and a return on equity of 12.56%. The company had revenue of $48.28 million during the quarter, compared to analysts’ expectations of $49.00 million. As a group, equities analysts predict that UFP Technologies will post 1.52 EPS for the current year.

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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