One of today's stocks on the move is Universal Forest Products (NASDAQ:UFPI), down 3.4% to $31.18. The S&P is trading lower by 0.7% to 1,307 and the Dow is trading 0.7% lower to 12,573.
There is potential upside of 7.4% for shares of Universal Forest Products based on a current price of $31.18 and an average consensus analyst price target of $33.50. The stock should find initial support at its 50-day moving average (MA) of $29.71 and further support at its 200-day MA of $28.26.
In the past 52 weeks, shares of Universal Forest Products have traded between a low of $22.91 and a high of $39.84 and are now at $31.18, which is 36% above that low price. The 200-day and 50-day moving averages have moved 0.33% lower and 1.84% higher over the past week, respectively.
Universal Forest Products, Inc. engineers, manufactures, treats and distributes lumber products for the do-it-yourself (DIY), manufactured housing, industrial and site-built construction markets. The company distributes its products through home-center retailers, retail- and contractor-oriented regional lumberyards, and to builders and modular-home contractors.
