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Why UFP Industries (UFPI) Outpaced the Stock Market Today
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UFP Industries (UFPI - Free Report) closed at $119.76 in the latest trading session, marking a +1.82% move from the prior day. This change outpaced the S&P 500's 0.58% gain on the day. Meanwhile, the Dow experienced a rise of 0.91%, and the technology-dominated Nasdaq saw an increase of 0.3%.
Prior to today's trading, shares of the wood and materials provider for the construction industry had gained 2.98% over the past month. This has lagged the Construction sector's gain of 4.75% and the S&P 500's gain of 4.61% 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 February 20, 2024. The company is predicted to post an EPS of $1.68, indicating a 20% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.75 billion, reflecting an 8.41% fall from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for UFP Industries. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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).
Digging into valuation, UFP Industries currently has a Forward P/E ratio of 15.24. Its industry sports an average Forward P/E of 25.55, so one might conclude that UFP Industries is trading at a discount comparatively.
The Building Products - Wood industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 28, placing it within the top 12% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UFPI in the coming trading sessions, be sure to utilize Zacks.com.
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Why UFP Industries (UFPI) Outpaced the Stock Market Today
UFP Industries (UFPI - Free Report) closed at $119.76 in the latest trading session, marking a +1.82% move from the prior day. This change outpaced the S&P 500's 0.58% gain on the day. Meanwhile, the Dow experienced a rise of 0.91%, and the technology-dominated Nasdaq saw an increase of 0.3%.
Prior to today's trading, shares of the wood and materials provider for the construction industry had gained 2.98% over the past month. This has lagged the Construction sector's gain of 4.75% and the S&P 500's gain of 4.61% 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 February 20, 2024. The company is predicted to post an EPS of $1.68, indicating a 20% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.75 billion, reflecting an 8.41% fall from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for UFP Industries. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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).
Digging into valuation, UFP Industries currently has a Forward P/E ratio of 15.24. Its industry sports an average Forward P/E of 25.55, so one might conclude that UFP Industries is trading at a discount comparatively.
The Building Products - Wood industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 28, placing it within the top 12% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UFPI in the coming trading sessions, be sure to utilize Zacks.com.