Zacks Downgrades UFPI

Zacks Investment Research reports Universal Forest Products, Inc.’s (UFPI) 2012 third quarter earnings fell below year ago earnings per share by $0.01 to $0.28, and $0.10 below Zacks Consensus estimate of $0.38 a share. A $2 million Canadian anti-dumping duty severely impacted the low return. Higher lumber prices contributed to double digit growth in sales, but the volatility of the lumber market and general market conditions leads Zacks to downgrade UFPI from Neutral to Underperform. As MHProNews knows, UFPI supplies wood and wood alternative products to the manufactured housing industry.

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