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Why Universal Forest Products Shares Popped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Universal Forest Products (NASDAQ: UFPI  ) jumped as much as 10% today after reporting earnings.

So what: Revenue rose 24% to $738.4 million and was well ahead of the $714.8 million analysts expected. Earnings per share fell 10% from a year ago, but at $0.79 was still $0.12 ahead of expectations.  

Now what: Each of the company's five segments delivered double-digit growth, driven by the housing recovery. Management was also able to handle falling lumber prices by increasing volume. The stock still trades at a hefty 16 times forward earnings, but if this growth continues across the board, and the housing market improves, it could end up being a steal in the long term.

Interested in more info on Universal Forest Products? Add it to your watchlist by clicking here.


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DocumentId: 2544869, ~/Articles/ArticleHandler.aspx, 8/23/2016 9:38:36 PM

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Related Tickers

8/23/2016 4:00 PM
UFPI $108.74 Up +1.09 +1.01%
Universal Forest P… CAPS Rating: ***

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