StockNews.com Lowers UFP Technologies (NASDAQ:UFPT) to Sell

UFP Technologies (NASDAQ:UFPTGet Rating) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other equities research analysts have also issued reports on UFPT. Lake Street Capital started coverage on UFP Technologies in a research note on Wednesday. They issued a “buy” rating and a $110.00 price target for the company. Colliers Securities reiterated a “buy” rating on shares of UFP Technologies in a research note on Tuesday, March 22nd.

Shares of NASDAQ:UFPT traded up $1.37 during midday trading on Thursday, hitting $79.97. The company had a trading volume of 188,350 shares, compared to its average volume of 26,052. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.54 and a quick ratio of 1.42. The company has a market cap of $604.73 million, a price-to-earnings ratio of 36.68 and a beta of 0.88. UFP Technologies has a 12-month low of $56.00 and a 12-month high of $87.83. The company has a fifty day moving average of $73.76 and a two-hundred day moving average of $70.40.

UFP Technologies (NASDAQ:UFPTGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter. UFP Technologies had a return on equity of 8.72% and a net margin of 7.24%. The business had revenue of $71.24 million during the quarter.

Institutional investors have recently modified their holdings of the company. Summit Global Investments grew its position in shares of UFP Technologies by 7.8% during the fourth quarter. Summit Global Investments now owns 6,900 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 500 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of UFP Technologies during the fourth quarter valued at about $230,000. Allspring Global Investments Holdings LLC purchased a new position in shares of UFP Technologies during the fourth quarter valued at about $6,136,000. Ranger Investment Management L.P. grew its position in shares of UFP Technologies by 41.2% during the fourth quarter. Ranger Investment Management L.P. now owns 88,699 shares of the industrial products company’s stock valued at $6,232,000 after purchasing an additional 25,882 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of UFP Technologies by 11.4% during the fourth quarter. Acadian Asset Management LLC now owns 21,974 shares of the industrial products company’s stock valued at $1,541,000 after purchasing an additional 2,250 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

About UFP Technologies (Get Rating)

UFP Technologies, Inc designs and custom manufactures components, subassemblies, products, and packaging utilizing specialized foams, films, and plastics primarily for the medical market. Its single-use and single-patient devices and components are used in a range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging.

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