DA Davidson lowered the firm’s price target on UFP Industries (UFPI) to $110 from $117 and keeps a Neutral rating on the shares. The company reported a disappointing Q1 result and a prudently cautious full-year outlook, the analyst tells investors in a research note. The firm is encouraged by commentary suggesting a seasonal pickup into April, anticipated Retail gross margin improvements, and significant share repurchase activity, but it’s difficult to envision a meaningful improvement in margins absent an inflection in demand, DA Davidson added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UFPI:
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue