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UFP Industries (UFPI) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, UFP Industries (UFPI - Free Report) closed at $101.36, marking a -1.26% move from the previous day. This change lagged the S&P 500's daily loss of 0.68%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, lost 3.19%.
Prior to today's trading, shares of the wood and materials provider for the construction industry had gained 13.11% over the past month. This has outpaced the Construction sector's gain of 8.04% and the S&P 500's gain of 3.58% in that time.
Investors will be hoping for strength from UFP Industries as it approaches its next earnings release, which is expected to be August 2, 2023. In that report, analysts expect UFP Industries to post earnings of $2.40 per share. This would mark a year-over-year decline of 25.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.3 billion, down 20.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.29 per share and revenue of $8.19 billion. These totals would mark changes of -24.43% and -14.92%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for UFP Industries. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. UFP Industries is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note UFP Industries's current valuation metrics, including its Forward P/E ratio of 12.39. Its industry sports an average Forward P/E of 25.11, so we one might conclude that UFP Industries is trading at a discount comparatively.
The Building Products - Wood industry is part of the Construction sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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UFP Industries (UFPI) Dips More Than Broader Markets: What You Should Know
In the latest trading session, UFP Industries (UFPI - Free Report) closed at $101.36, marking a -1.26% move from the previous day. This change lagged the S&P 500's daily loss of 0.68%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, lost 3.19%.
Prior to today's trading, shares of the wood and materials provider for the construction industry had gained 13.11% over the past month. This has outpaced the Construction sector's gain of 8.04% and the S&P 500's gain of 3.58% in that time.
Investors will be hoping for strength from UFP Industries as it approaches its next earnings release, which is expected to be August 2, 2023. In that report, analysts expect UFP Industries to post earnings of $2.40 per share. This would mark a year-over-year decline of 25.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.3 billion, down 20.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.29 per share and revenue of $8.19 billion. These totals would mark changes of -24.43% and -14.92%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for UFP Industries. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. UFP Industries is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note UFP Industries's current valuation metrics, including its Forward P/E ratio of 12.39. Its industry sports an average Forward P/E of 25.11, so we one might conclude that UFP Industries is trading at a discount comparatively.
The Building Products - Wood industry is part of the Construction sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.