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MarketScreener Homepage  >  Equities  >  Nasdaq  >  UFP Technologies, Inc.    UFPT

UFP TECHNOLOGIES, INC.

(UFPT)
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UFP Technologies : COVID-19 (Coronavirus) Update

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03/16/2020 | 01:41pm EDT

March 16, 2020 - Newburyport, Massachusetts - With the rapidly evolving COVID-19 (Coronavirus) situation, we are executing on our two highest priorities:

1. Health and Safety- A top priority at UFP Technologies is the safety of our employees, our customers, and our communities. Safety includes overall good health and wellness.

With information evolving hourly regarding COVID-19, UFP Technologies has deployed our Incident Management Team to help determine the best course of action to ensure that our employees and customers remain safe and healthy. We are taking a measured approach to responding to the challenges posed by this illness including the following:

  • We have activated our own Pandemic Response Plan and are staying current with actions to prevent and mitigate the spread of COVID-19.
  • We have implemented a 'work-from-home' strategy for all non-essential personnel with support of a robust IT 'readiness' plan. This includes not allowing visitors into our factories.
  • We are communicating regularly with our employees about preventative measures such as improved hygiene, social distancing, and advising them to stay home if they feel sick.
  • We have increased the depth and frequency of our cleaning procedures.

2. Continuity of Supply- In concert with maintaining a safe and healthy work environment, UFP Technologies is taking all the necessary steps to ensure a continuity of supply for our customers. Currently, all nine of our factories are operational without a known report of COVID-19.

The UFP Technologies Team is proactively working with all our suppliers, most of which are US based, to keep current and manage the evolving needs of our customers. To provide some assurance, UFP has:

  • Nine US factories with redundant manufacturing capabilities and mirrored customer support services
  • Long-standing, strong supplier relationships we can leverage on behalf of our customers.

Currently, these proactive steps are working for us. However, as the situation evolves, we recognize there may be additional steps needed and we will proactively communicate with our customers if we believe they could be adversely affected (i.e., with extended response times or delivery dates).

We remain highly committed to bringing you our very best service while providing our employees and you, our customers, the support needed in these uncertain times.

Sincerely,
R. Jeffrey Bailly,
Chairman & CEO

Disclaimer

UFP Technologies Inc. published this content on 16 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2020 18:40:07 UTC

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Financials (USD)
Sales 2020 186 M - -
Net income 2020 11,4 M - -
Net Debt 2020 - - -
P/E ratio 2020 28,6x
Yield 2020 -
Capitalization 328 M 328 M -
EV / Sales 2019
Capi. / Sales 2020 1,77x
Nbr of Employees 986
Free-Float 90,4%
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Technical analysis trends UFP TECHNOLOGIES, INC.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 1
Average target price 50,00 $
Last Close Price 43,53 $
Spread / Highest target 14,9%
Spread / Average Target 14,9%
Spread / Lowest Target 14,9%
EPS Revisions
Managers
NameTitle
R. Jeffrey Bailly Chairman, President & Chief Executive Officer
William David Smith Senior Vice President-Operations
Ronald J. Lataille CFO, Secretary, Treasurer & Senior Vice President
Daniel J. Shaw Vice President-Research & Development
Thomas W. Oberdorf Independent Director
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