Zacks Investment Research Downgrades UFP Technologies (NASDAQ:UFPT) to Sell

Zacks Investment Research downgraded shares of UFP Technologies (NASDAQ:UFPT) from a hold rating to a sell rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Several other analysts have also recently commented on UFPT. ValuEngine cut UFP Technologies from a hold rating to a sell rating in a research report on Friday, January 3rd. BidaskClub raised UFP Technologies from a sell rating to a hold rating in a research report on Thursday, November 21st.

Shares of UFPT traded down $0.68 during trading hours on Thursday, hitting $47.11. 45,050 shares of the company were exchanged, compared to its average volume of 38,763. The company has a market capitalization of $357.15 million, a PE ratio of 22.43 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.00 and a quick ratio of 2.10. The firm has a fifty day simple moving average of $47.51 and a 200-day simple moving average of $42.95. UFP Technologies has a one year low of $30.34 and a one year high of $50.00.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.19. The business had revenue of $49.39 million during the quarter, compared to analysts’ expectations of $51.50 million. UFP Technologies had a return on equity of 12.45% and a net margin of 9.25%. Sell-side analysts expect that UFP Technologies will post 2.47 EPS for the current year.

In other news, Director Thomas Oberdorf sold 7,246 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.55, for a total value of $308,317.30. Following the completion of the sale, the director now owns 52,354 shares of the company’s stock, valued at $2,227,662.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ronald J. Lataille sold 5,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $43.95, for a total value of $241,725.00. In the last ninety days, insiders sold 60,687 shares of company stock valued at $2,715,999. 11.00% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of UFP Technologies in the third quarter worth $48,000. Metropolitan Life Insurance Co NY acquired a new stake in UFP Technologies during the third quarter valued at $90,000. Public Employees Retirement System of Ohio acquired a new stake in UFP Technologies during the third quarter valued at $146,000. Squarepoint Ops LLC boosted its position in UFP Technologies by 15.4% during the third quarter. Squarepoint Ops LLC now owns 6,231 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 831 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in UFP Technologies by 8.5% during the third quarter. Rhumbline Advisers now owns 10,015 shares of the industrial products company’s stock valued at $387,000 after purchasing an additional 783 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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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