UFP Industries (UFPI) Surpasses Market ReturnsUFP Industries (UFPI) closed at $101.32, marking a +0.67% move from the previous day. This change outpaced the S&P 500's 0.63% gain on the day. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Coming into today, shares of the wood and materials provider for the construction industry had lost 0.76% in the past month. In that same time, the Construction sector lost 6.52%, while the S&P 500 lost 3.39%.
UFPI trade ideas
Leader of the wood industry $UFPI is giving bullish signsUFP Industries, which makes lumber and other building products has 216 locations in eight countries making wood and wood-alternative products for retail, construction and industrial customers.
After making an ATH at $94 in January, has formed a good cup & handle pattern with a pivot buy above $88.10. The handle shows a good volatility contraction as it has low volume. This is a very good sign and could help the price to have an explosive move up. Also the MACD is been trending up since mid February.
In IBD, NASDAQ:UFPI ranks No. 1 in its building-wood group, with a 89 Relative Strength rating. As you can see above the chart, while the AMEX:SPY has been trending down while NASDAQ:UFPI is making higher lows.
With lumber prices in an uptrend, this leader could give a really good bull run.
$UFPIEntry price : 61.96
Fundamentals :
- Sector: Building - Wood products
- EPS % Chg (Last Qtr): 49%
- EPS % Chg (Previous Qtr): 23%
- 3 Year EPS Growth Rate: 25%
- EPS Est % Chg (Current Yr): 26%
- Sales % Chg (Last Qtr): 28%
- Sales % Chg (Previous Qtr): 0%
- 3-Year Sales Growth Rate: 5%
- Annual Pre -Tax Margin: 5.5%