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UFP Industries (UFPI) Declines More Than Market: Some Information for Investors
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UFP Industries (UFPI - Free Report) closed at $94.83 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily loss of 1.26%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 1.54%.
Heading into today, shares of the wood and materials provider for the construction industry had lost 5.31% over the past month, outpacing the Construction sector's loss of 7.65% and lagging the S&P 500's loss of 3.67% in that time.
Analysts and investors alike will be keeping a close eye on the performance of UFP Industries in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2023. The company's earnings per share (EPS) are projected to be $2.13, reflecting a 19.92% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.04 billion, indicating a 12.35% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.26 per share and a revenue of $7.82 billion, signifying shifts of -24.7% and -18.78%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for UFP Industries. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. UFP Industries is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, UFP Industries is currently trading at a Forward P/E ratio of 11.64. This signifies a discount in comparison to the average Forward P/E of 16.89 for its industry.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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UFP Industries (UFPI) Declines More Than Market: Some Information for Investors
UFP Industries (UFPI - Free Report) closed at $94.83 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily loss of 1.26%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 1.54%.
Heading into today, shares of the wood and materials provider for the construction industry had lost 5.31% over the past month, outpacing the Construction sector's loss of 7.65% and lagging the S&P 500's loss of 3.67% in that time.
Analysts and investors alike will be keeping a close eye on the performance of UFP Industries in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2023. The company's earnings per share (EPS) are projected to be $2.13, reflecting a 19.92% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.04 billion, indicating a 12.35% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.26 per share and a revenue of $7.82 billion, signifying shifts of -24.7% and -18.78%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for UFP Industries. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. UFP Industries is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, UFP Industries is currently trading at a Forward P/E ratio of 11.64. This signifies a discount in comparison to the average Forward P/E of 16.89 for its industry.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.