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UFP Industries (UFPI) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest market close, UFP Industries (UFPI - Free Report) reached $115.18, with a -0.94% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.07% for the day. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 1.74%.
Coming into today, shares of the wood and materials provider for the construction industry had lost 1.84% in the past month. In that same time, the Construction sector gained 0.85%, while the S&P 500 gained 2.93%.
The upcoming earnings release of UFP Industries will be of great interest to investors. On that day, UFP Industries is projected to report earnings of $1.68 per share, which would represent a year-over-year decline of 20%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.75 billion, indicating an 8.41% decrease compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for UFP Industries. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. UFP Industries is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, UFP Industries is presently being traded at a Forward P/E ratio of 15.07. Its industry sports an average Forward P/E of 24.68, so one might conclude that UFP Industries is trading at a discount comparatively.
The Building Products - Wood industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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UFP Industries (UFPI) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, UFP Industries (UFPI - Free Report) reached $115.18, with a -0.94% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.07% for the day. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 1.74%.
Coming into today, shares of the wood and materials provider for the construction industry had lost 1.84% in the past month. In that same time, the Construction sector gained 0.85%, while the S&P 500 gained 2.93%.
The upcoming earnings release of UFP Industries will be of great interest to investors. On that day, UFP Industries is projected to report earnings of $1.68 per share, which would represent a year-over-year decline of 20%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.75 billion, indicating an 8.41% decrease compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for UFP Industries. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. UFP Industries is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, UFP Industries is presently being traded at a Forward P/E ratio of 15.07. Its industry sports an average Forward P/E of 24.68, so one might conclude that UFP Industries is trading at a discount comparatively.
The Building Products - Wood industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.