It Seems Universal Forest Products, Inc. (UFPI) Will Go Up. Just Reaches 52-Week High

October 20, 2017 - By Marguerite Chambers

Investors sentiment increased to 1.26 in 2017 Q2. Its up 0.19, from 1.07 in 2017Q1. It is positive, 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.
Shell Asset Mngmt reported 0.01% of its portfolio in Universal Forest Products, Inc. (NASDAQ:UFPI). Teachers Retirement Of The State Of Kentucky reported 7,500 shares or 0.01% of all its holdings. Qs Limited Company owns 33,807 shares. Alps Advsr Inc has invested 0% in Universal Forest Products, Inc. (NASDAQ:UFPI). Alpha Windward Lc accumulated 0.28% or 4,980 shares. Geode Mngmt Limited Liability Corporation invested in 0.01% or 187,344 shares. Bancorpsouth Inc invested in 5,323 shares. Riverhead Cap Mngmt Ltd Liability Co holds 0.01% or 1,598 shares. The New York-based Mutual Of America Management Ltd Co has invested 0.09% in Universal Forest Products, Inc. (NASDAQ:UFPI). Ameriprise invested in 167,827 shares or 0.01% of the stock. New York-based Bnp Paribas Arbitrage has invested 0.01% in Universal Forest Products, Inc. (NASDAQ:UFPI). 85 were accumulated by Gemmer Asset Management Lc. Victory Mgmt, Ohio-based fund reported 168,879 shares. Meeder Asset Mngmt Inc invested in 106 shares. Ls Advsr Limited Liability Com, Michigan-based fund reported 754 shares.

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. DA Davidson downgraded the stock to “Underperform” rating in Tuesday, December 8 report. DA Davidson downgraded the shares of UFPI in report on Friday, October 16 to “Neutral” rating. BMO Capital Markets initiated Universal Forest Products, Inc. (NASDAQ:UFPI) rating on Tuesday, October 17. BMO Capital Markets has “Hold” rating and $110.0 target. DA Davidson upgraded it to “Neutral” rating and $71.0 target in Tuesday, January 12 report. The firm has “Buy” rating by DA Davidson given on Thursday, October 20.

More notable recent Universal Forest Products, Inc. (NASDAQ:UFPI) news were published by: Seekingalpha.com which released: “Universal Forest Products’ (UFPI) CEO Matt Missad on Q1 2017 Results …” on April 19, 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: Post-Earnings Analysis” with publication date: May 22, 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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