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UFP Industries (UFPI) Gains As Market Dips: What You Should Know
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In the latest trading session, UFP Industries (UFPI - Free Report) closed at $99.61, marking a +0.68% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the wood and materials provider for the construction industry had gained 10.62% in the past month. In that same time, the Construction sector gained 8.28%, while the S&P 500 gained 3.39%.
Investors will be hoping for strength from UFP Industries as it approaches its next earnings release. On that day, UFP Industries is projected to report earnings of $2.40 per share, which would represent a year-over-year decline of 25.7%. Meanwhile, our latest consensus estimate is calling for revenue of $2.3 billion, down 20.58% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.29 per share and revenue of $8.19 billion, which would represent changes of -24.43% and -14.92%, respectively, from the prior year.
Any recent changes to analyst estimates for UFP Industries should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate 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 11.94. Its industry sports an average Forward P/E of 25.43, 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 38, putting it in the top 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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UFP Industries (UFPI) Gains As Market Dips: What You Should Know
In the latest trading session, UFP Industries (UFPI - Free Report) closed at $99.61, marking a +0.68% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the wood and materials provider for the construction industry had gained 10.62% in the past month. In that same time, the Construction sector gained 8.28%, while the S&P 500 gained 3.39%.
Investors will be hoping for strength from UFP Industries as it approaches its next earnings release. On that day, UFP Industries is projected to report earnings of $2.40 per share, which would represent a year-over-year decline of 25.7%. Meanwhile, our latest consensus estimate is calling for revenue of $2.3 billion, down 20.58% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.29 per share and revenue of $8.19 billion, which would represent changes of -24.43% and -14.92%, respectively, from the prior year.
Any recent changes to analyst estimates for UFP Industries should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate 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 11.94. Its industry sports an average Forward P/E of 25.43, 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 38, putting it in the top 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.