Financial consulting firm D. A. Davidson, which provides advice on a wide range of financial products, has changed their comment on Universal Forest Products Inc. (UFPI) from neutral to buy, according to streetinsider.com. UFPI closed up +2.99% in trading, Thurs., Sept. 5, including after hours, to end at 38.12. The 52-week range is $32.56 to $45.60; the company’s profit last year was $23.7 million. Davidson says the stock is weak only because of overstated fears about the housing industry rebound, and that UFPI’s exposure to residential construction is only 20 percent. MHProNews knows Universal is a major supplier of wood and wood-like products to the manufactured and modular home industries.
(Photo credit: Universal Forest Products, Inc.)