Unique Fabricating (UFAB) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Unique Fabricating (NYSEAMERICAN:UFAB) from a hold rating to a buy rating in a research report report published on Friday morning. The firm currently has $8.75 target price on the auto parts company’s stock.

According to Zacks, “Unique Fabricating, Inc. is a supplier of components in the automotive and industrial appliance market. The Company’s solutions comprised of multi-material foam, rubber and plastic components for noise, vibration and harshness management, acoustical management, water and air sealing, decorative and other functional applications. Its processes include die cutting, thermoforming, compression molding, fusion molding and assembly. The company operates primarily in Auburn Hills, Michigan, LaFayette, Georgia and Monterrey, Mexico. Unique Fabricating, Inc. is headquartered in Auburn Hills, Michigan. “

Separately, Taglich Brothers restated a speculative buy rating on shares of Unique Fabricating in a research note on Wednesday, September 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Unique Fabricating currently has a consensus rating of Buy and an average price target of $10.38.

Unique Fabricating stock traded down $0.05 during trading on Friday, hitting $7.40. The company’s stock had a trading volume of 15,856 shares, compared to its average volume of 12,446. Unique Fabricating has a 1-year low of $7.05 and a 1-year high of $9.70.

Unique Fabricating (NYSEAMERICAN:UFAB) last announced its quarterly earnings results on Thursday, August 9th. The auto parts company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $45.74 million during the quarter, compared to analyst estimates of $47.27 million. Unique Fabricating had a return on equity of 5.67% and a net margin of 1.73%.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Unique Fabricating by 65.1% in the second quarter. BlackRock Inc. now owns 21,520 shares of the auto parts company’s stock valued at $188,000 after purchasing an additional 8,489 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Unique Fabricating by 42.4% in the first quarter. Dimensional Fund Advisors LP now owns 34,918 shares of the auto parts company’s stock valued at $295,000 after purchasing an additional 10,402 shares during the last quarter. Bailard Inc. purchased a new position in Unique Fabricating in the second quarter valued at about $313,000. Renaissance Technologies LLC boosted its holdings in Unique Fabricating by 274.6% in the second quarter. Renaissance Technologies LLC now owns 79,800 shares of the auto parts company’s stock valued at $697,000 after purchasing an additional 58,500 shares during the last quarter. Finally, North Star Investment Management Corp. purchased a new position in Unique Fabricating in the second quarter valued at about $786,000.

Unique Fabricating Company Profile

Unique Fabricating, Inc engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration, harshness, acoustical management, water and air sealing, decorative, and other functional applications. It offers die cut products, such as trim insulation, headliner insulation, fender acoustical pad, A/B/C pillar cover, dashboard seal, cup holder base, and under hood insulation products, as well as heating, ventilation, and air conditioning (HVAC) seals; thermoformed and compression molded products, including HVAC air ducts, door water shields, evaporator liners, console bin mats and fender insulators, and others; and fusion molded products comprising interior mirror, body-in-white, cowl to hood, and cowl to fender seals.

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