Brokerages Set $44.00 Price Target for UFP Technologies, Inc. (NASDAQ:UFPT)

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

Analysts have set a 1-year consensus price target of $44.00 for the company and are predicting that the company will post $0.57 EPS for the current quarter, according to Zacks. Zacks has also given UFP Technologies an industry rank of 110 out of 256 based on the ratings given to related companies.

UFPT has been the subject of a number of recent research reports. ValuEngine downgraded UFP Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. BidaskClub upgraded UFP Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 12th. Finally, Zacks Investment Research downgraded UFP Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

In other news, insider R Jeffrey Bailly sold 7,680 shares of UFP Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $38.70, for a total transaction of $297,216.00. Following the transaction, the insider now directly owns 495,722 shares of the company’s stock, valued at approximately $19,184,441.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 16,219 shares of company stock worth $626,302. Insiders own 11.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of UFPT. BNP Paribas Arbitrage SA lifted its holdings in UFP Technologies by 545.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,387 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 1,172 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in UFP Technologies in the 4th quarter worth approximately $70,000. Hillsdale Investment Management Inc. lifted its holdings in 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 worth $127,000 after purchasing an additional 2,350 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in UFP Technologies in the 4th quarter worth approximately $95,000. Finally, Alambic Investment Management L.P. purchased a new position in UFP Technologies in the 1st quarter worth approximately $253,000. 74.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of UFP Technologies stock traded up $0.08 during trading hours on Friday, reaching $41.12. 26,100 shares of the stock traded hands, compared to its average volume of 27,458. The company has a 50 day moving average price of $41.88 and a 200 day moving average price of $37.57. The firm has a market capitalization of $304.86 million, a price-to-earnings ratio of 19.58 and a beta of 0.54. UFP Technologies has a one year low of $27.80 and a one year high of $46.42. 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 released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. The business had revenue of $51.40 million during the quarter, compared to the consensus estimate of $51.50 million. UFP Technologies had a return on equity of 11.84% and a net margin of 8.56%. Sell-side analysts anticipate that UFP Technologies will post 2.22 earnings per share 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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