Sidoti & Co. Initiates Coverage on Universal Forest Products to Neutral

Sidoti & Co. Initiates Coverage on Universal Forest Products(NASDAQ:UFPI). The shares have been rated Neutral. The rating by Sidoti & Co. was issued on Apr 14, 2016.

Universal Forest Products (UFPI) shares turned negative on Mondays trading session with the shares closing down -1.9 points or -2.22% at a volume of 2,25,345. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $86.2099. The peak price level was also seen at $86.2099 while the days lowest was $82.35. Finally the shares closed at $83.62. The 52-week high of the shares is $87.3 while the 52-week low is $50.4. According to the latest information available, the market cap of the company is $1,684 M.

Universal Forest Products(UFPI) last announced its earnings results on Feb 17, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $653.60M. Analysts had an estimated revenue of $664.55M. Earnings per share were $0.93. Analysts had estimated an EPS of $0.80.

Several Insider Transactions has been reported to the SEC. On Mar 8, 2016, David A. Tutas (VP Legal, Gen Csl, Secty) sold 265 shares at $79.50 per share price.Also, On Oct 29, 2015, Charles Scott Greene (Exec. VP Marketing) sold 1,500 shares at $74.47 per share price.On Oct 19, 2015, Robert D Coleman (Exec Vice Pres Manufacturing) sold 2,500 shares at $71.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Universal Forest Products Inc. is a holding company. The Company capital management and administrative resources to subsidiaries that supply wood wood composite and other products to three primary markets: retail housing and construction and industrial. The Company’s retail market comprises building materials sold primarily to national home center retailers retail-oriented regional lumber yards and contractor-oriented lumber yards. Its housing and construction market comprises three submarkets manufactured housing customers residential construction customers and commercial construction customers. Its industrial market is defined as industrial manufacturers and other customers for packaging material handling and other applications. The Company’s segments include Eastern Western Site-Built Consumer Products Distribution and Pinelli Universal.

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