UFP Technologies (NASDAQ:UFPT) Price Target Raised to $300.00

UFP Technologies (NASDAQ:UFPT) had its price objective lifted by analysts at Lake Street Capital from $270.00 to $300.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Lake Street Capital’s price objective points to a potential upside of 13.69% from the company’s previous close.

Separately, CJS Securities began coverage on shares of UFP Technologies in a research report on Wednesday, March 20th. They set an “outperform” rating and a $255.00 price target on the stock.

UFP Technologies Stock Up 2.4 %

UFPT stock opened at $263.87 on Friday. The firm has a market cap of $2.02 billion, a PE ratio of 42.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 2.87. The firm’s fifty day moving average is $250.46 and its 200 day moving average is $215.03. UFP Technologies has a one year low of $127.29 and a one year high of $270.72.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.66 EPS for the quarter. The company had revenue of $105.01 million for the quarter. UFP Technologies had a net margin of 11.75% and a return on equity of 17.40%.

Hedge Funds Weigh In On UFP Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mountain Pacific Investment Advisers Inc. ID lifted its holdings in UFP Technologies by 46.0% during the fourth quarter. Mountain Pacific Investment Advisers Inc. ID now owns 70,360 shares of the industrial products company’s stock valued at $12,105,000 after purchasing an additional 22,163 shares in the last quarter. Confluence Investment Management LLC purchased a new position in UFP Technologies during the first quarter valued at $4,798,000. Congress Asset Management Co. MA lifted its holdings in UFP Technologies by 15.1% during the fourth quarter. Congress Asset Management Co. MA now owns 67,829 shares of the industrial products company’s stock valued at $11,669,000 after purchasing an additional 8,914 shares in the last quarter. Annex Advisory Services LLC lifted its holdings in UFP Technologies by 8.3% during the first quarter. Annex Advisory Services LLC now owns 46,489 shares of the industrial products company’s stock valued at $11,725,000 after purchasing an additional 3,564 shares in the last quarter. Finally, Peterson Wealth Services purchased a new position in UFP Technologies during the fourth quarter valued at $204,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Company Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.