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UFP Industries (UFPI) Laps the Stock Market: Here's Why
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In the latest trading session, UFP Industries (UFPI - Free Report) closed at $117.44, marking a +1.14% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow experienced a rise of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.24%.
The the stock of wood and materials provider for the construction industry has fallen by 2.92% in the past month, lagging the Construction sector's gain of 5.33% and the S&P 500's gain of 6.45%.
Market participants will be closely following the financial results of UFP Industries in its upcoming release. The company plans to announce its earnings on February 20, 2024. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $1.75 billion, showing an 8.41% drop compared to the year-ago quarter.
Investors should also note any recent changes to analyst estimates for UFP Industries. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. UFP Industries is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that UFP Industries has a Forward P/E ratio of 15.05 right now. This expresses a discount compared to the average Forward P/E of 24.22 of its industry.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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UFP Industries (UFPI) Laps the Stock Market: Here's Why
In the latest trading session, UFP Industries (UFPI - Free Report) closed at $117.44, marking a +1.14% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow experienced a rise of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.24%.
The the stock of wood and materials provider for the construction industry has fallen by 2.92% in the past month, lagging the Construction sector's gain of 5.33% and the S&P 500's gain of 6.45%.
Market participants will be closely following the financial results of UFP Industries in its upcoming release. The company plans to announce its earnings on February 20, 2024. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $1.75 billion, showing an 8.41% drop compared to the year-ago quarter.
Investors should also note any recent changes to analyst estimates for UFP Industries. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. UFP Industries is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that UFP Industries has a Forward P/E ratio of 15.05 right now. This expresses a discount compared to the average Forward P/E of 24.22 of its industry.
The Building Products - Wood industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.