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Why UFP Industries (UFPI) Dipped More Than Broader Market Today
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The latest trading session saw UFP Industries (UFPI - Free Report) ending at $113.91, denoting a -0.19% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.36%.
The the stock of wood and materials provider for the construction industry has fallen by 10.23% in the past month, lagging the Construction sector's loss of 1.36% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of UFP Industries in its upcoming release. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.75 billion, down 8.41% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for UFP Industries. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 14.79 right now. This signifies a discount in comparison to the average Forward P/E of 23.61 for its industry.
The Building Products - Wood industry is part of the Construction sector. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why UFP Industries (UFPI) Dipped More Than Broader Market Today
The latest trading session saw UFP Industries (UFPI - Free Report) ending at $113.91, denoting a -0.19% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.36%.
The the stock of wood and materials provider for the construction industry has fallen by 10.23% in the past month, lagging the Construction sector's loss of 1.36% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of UFP Industries in its upcoming release. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.75 billion, down 8.41% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for UFP Industries. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 14.79 right now. This signifies a discount in comparison to the average Forward P/E of 23.61 for its industry.
The Building Products - Wood industry is part of the Construction sector. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.