UFP Technologies, Inc. (NASDAQ:UFPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm currently has a $30.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.94% from the stock’s previous close.

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. “

UFP Technologies (NASDAQ UFPT) opened at $26.80 on Friday. UFP Technologies has a 52 week low of $22.95 and a 52 week high of $31.50. The stock has a market capitalization of $194.77, a P/E ratio of 24.59 and a beta of 0.18.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.13). The firm had revenue of $35.68 million during the quarter, compared to the consensus estimate of $38.70 million. UFP Technologies had a return on equity of 6.83% and a net margin of 5.43%. equities analysts anticipate that UFP Technologies will post 1.12 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of UFPT. FMR LLC lifted its holdings in UFP Technologies by 105.5% during the second quarter. FMR LLC now owns 205,504 shares of the industrial products company’s stock worth $5,816,000 after buying an additional 105,504 shares during the period. Nationwide Fund Advisors lifted its holdings in UFP Technologies by 952.3% during the second quarter. Nationwide Fund Advisors now owns 40,775 shares of the industrial products company’s stock worth $1,154,000 after buying an additional 36,900 shares during the period. Quantum Capital Management purchased a new stake in UFP Technologies during the third quarter worth $983,000. OxFORD Asset Management LLP lifted its holdings in UFP Technologies by 166.2% during the second quarter. OxFORD Asset Management LLP now owns 47,601 shares of the industrial products company’s stock worth $1,347,000 after buying an additional 29,716 shares during the period. Finally, Anchor Capital Advisors LLC purchased a new stake in UFP Technologies during the second quarter worth $758,000. Institutional investors own 67.62% of the company’s stock.

UFP Technologies Company Profile

UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.

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