Zacks Whacks Universal with Two by Four

stockrants states Zack’s Investment Research downgraded shares of Universal Forest Products, Inc., from neutral to underperform. Although their earning rose 123 percent year-over-year, it failed to meet Zacks’ estimate by two cents. The ongoing weakness in the residential construction and building materials market led to the top line falling 2.4 percent year-over-year, and a sequential decline of 14 percent. Further, the report states the volatility of the lumber market, coupled with Universal’s dependence on a single large customer for much of its sales exposes it to concentration risks. These negative catalysts led Zacks to downgrade Universal.

(Graphic credit: UFPI)

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