Is Buying Universal Forest Products, Inc. (UFPI) Here a Winning Strategy?

October 20, 2017 - By Darrin Black

Investors sentiment increased to 1.26 in 2017 Q2. Its up 0.19, from 1.07 in 2017Q1. It improved, as 31 investors sold Universal Forest Products, Inc. shares while 50 reduced holdings. 38 funds opened positions while 64 raised stakes. 16.25 million shares or 0.06% less from 16.26 million shares in 2017Q1 were reported.
North Point Managers Oh reported 2,600 shares stake. Louisiana State Employees Retirement Systems reported 8,400 shares or 0.04% of all its holdings. 21,655 are held by Comerica Fincl Bank. Ubs Asset Mngmt Americas has 0% invested in Universal Forest Products, Inc. (NASDAQ:UFPI). Cubist Systematic Strategies Ltd Liability Co owns 0.03% invested in Universal Forest Products, Inc. (NASDAQ:UFPI) for 4,938 shares. Cwm Ltd Liability Corporation accumulated 0% or 5 shares. Los Angeles Management Equity Inc, a California-based fund reported 4,361 shares. Creative Planning holds 0% or 35 shares. 1,586 were accumulated by Delta Asset Lc Tn. Financial Bank Of New York Mellon stated it has 434,215 shares or 0.01% of all its holdings. Ameritas Inv Prtnrs owns 1,712 shares. Jpmorgan Chase And holds 304,357 shares or 0.01% of its portfolio. Northern Corp holds 0.01% in Universal Forest Products, Inc. (NASDAQ:UFPI) or 373,172 shares. Envestnet Asset holds 0% or 5,067 shares in its portfolio. Pnc Services stated it has 0.01% in Universal Forest Products, Inc. (NASDAQ:UFPI).

The stock of Universal Forest Products, Inc. (NASDAQ:UFPI) hit a new 52-week high and has $113.57 target or 4.00 % above today’s $109.20 share price. The 7 months bullish chart indicates low risk for the $2.23B company. The 1-year high was reported on Oct, 20 by Barchart.com. If the $113.57 price target is reached, the company will be worth $89.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 118,952 shares traded. Universal Forest Products, Inc. (NASDAQ:UFPI) has risen 12.86% since October 20, 2016 and is uptrending. It has underperformed by 3.84% the S&P500.

Universal Forest Products, Inc. (NASDAQ:UFPI) Ratings Coverage

Among 2 analysts covering Universal Forest Products (NASDAQ:UFPI), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Universal Forest Products has $110.0 highest and $71.0 lowest target. $92.50’s average target is -15.29% below currents $109.2 stock price. Universal Forest Products had 6 analyst reports since October 16, 2015 according to SRatingsIntel. The rating was upgraded by DA Davidson on Thursday, October 20 to “Buy”. The rating was downgraded by DA Davidson to “Underperform” on Tuesday, December 8. The stock of Universal Forest Products, Inc. (NASDAQ:UFPI) has “Neutral” rating given on Tuesday, January 12 by DA Davidson. DA Davidson downgraded Universal Forest Products, Inc. (NASDAQ:UFPI) rating on Friday, October 16. DA Davidson has “Neutral” rating and $71 target. The firm earned “Hold” rating on Tuesday, October 17 by BMO Capital Markets.

More notable recent Universal Forest Products, Inc. (NASDAQ:UFPI) news were published by: Seekingalpha.com which released: “Universal Forest Products: Post-Earnings Analysis” on May 22, 2017, also Seekingalpha.com with their article: “Buy Universal Forest Products For The Value, Hold It For The Opportunity” published on April 06, 2017, Seekingalpha.com published: “Universal Forest Products Is Still Too Expensive After A Tough Q4” on February 27, 2017. More interesting news about Universal Forest Products, Inc. (NASDAQ:UFPI) were released by: Seekingalpha.com and their article: “Universal Forest Products: A Good Price And A Questionable First Half” published on August 28, 2017 as well as Seekingalpha.com‘s news article titled: “Universal Forest Products’ (UFPI) CEO Matt Missad on Q1 2017 Results …” with publication date: April 19, 2017.

Universal Forest Products, Inc. is a holding company. The company has market cap of $2.23 billion. The Company, through its subsidiaries, supplies wood, wood composite and other products to three primary markets, such as retail, construction and industrial. It has a 20.53 P/E ratio. The Company’s divisions include North, South, West, Alternative Materials, International, idX Holdings, Inc. and Corporate divisions. idX is a designer, maker and installer of in-store environments.

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