Zacks Investment Research upgraded shares of UFP Technologies (NASDAQ:UFPT) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $44.00 price objective on the industrial products company’s stock.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of UFP Technologies from a hold rating to a buy rating in a report on Thursday, May 9th. BidaskClub cut shares of UFP Technologies from a hold rating to a sell rating in a research report on Thursday, May 30th.

NASDAQ:UFPT opened at $40.15 on Tuesday. The stock has a market capitalization of $291.82 million, a PE ratio of 19.12 and a beta of 0.44. The company has a current ratio of 2.90, a quick ratio of 1.88 and a debt-to-equity ratio of 0.15. UFP Technologies has a fifty-two week low of $27.80 and a fifty-two week high of $40.00.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. UFP Technologies had a net margin of 8.35% and a return on equity of 11.79%. The company had revenue of $47.33 million during the quarter, compared to analyst estimates of $45.10 million. As a group, equities research analysts forecast that UFP Technologies will post 2.13 EPS for the current year.

In related news, insider R Jeffrey Bailly sold 6,573 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $38.53, for a total value of $253,257.69. Following the completion of the transaction, the insider now directly owns 496,122 shares of the company’s stock, valued at $19,115,580.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 16,219 shares of company stock valued at $626,302 over the last ninety days. 11.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of UFPT. BNP Paribas Arbitrage SA boosted its stake in shares of UFP Technologies by 545.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,387 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 1,172 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of UFP Technologies in the fourth quarter worth approximately $70,000. MetLife Investment Advisors LLC bought a new position in shares of UFP Technologies in the fourth quarter worth approximately $95,000. Ramsey Quantitative Systems raised its holdings in shares of UFP Technologies by 104.4% during the fourth quarter. Ramsey Quantitative Systems now owns 6,137 shares of the industrial products company’s stock valued at $184,000 after purchasing an additional 3,135 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of UFP Technologies by 245.4% during the first quarter. US Bancorp DE now owns 5,630 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 4,000 shares during the last quarter. 70.74% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Company Profile

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.

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