UFP Industries (UFPI) Dips More Than Broader Market: What You Should Know
The latest trading session saw UFP Industries (UFPI) ending at $117.90, denoting a -0.39% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.42%.
The the stock of wood and materials provider for the construction industry has risen by 6.24% in the past month, lagging the Construction sector's gain of 7.11% and overreaching the S&P 500's gain of 2.67%.
Investors will be eagerly watching for the performance of UFP Industries in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.61, signifying a 18.69% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.69 billion, indicating a 7.07% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.39 per share and revenue of $7.15 billion, which would represent changes of -8.43% and -0.93%, respectively, from the prior year.
Any recent changes to analyst estimates for UFP Industries should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.83% decrease. UFP Industries currently has a Zacks Rank of #3 (Hold).
In terms of valuation, UFP Industries is presently being traded at a Forward P/E ratio of 16.01. Its industry sports an average Forward P/E of 27.91, so one might conclude that UFP Industries is trading at a discount comparatively.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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UFP Industries, Inc. (UFPI) : Free Stock Analysis Report
