B.Riley FBR analyst Christopher Van Horn maintained a Buy rating on Unique Fabricating (UFAB) yesterday and set a price target of $7. The company’s shares closed yesterday at $3.29, close to its 52-week low of $3.13.
Van Horn wrote:
“While we recognize that the risk to the automotive cycle is high and that the company is going through a management and operational transition, we think there is still value in the name and maintain our Buy rating. Unique Fabricating (UFAB) reported 1Q19 results that were lower than expectations on the top line and bottom line. Results were negatively impacted by lower- than-expected North America auto production volumes. This industry headwind was largely anticipated, in our view, as earlier 1Q19 auto supplier earnings reports highlighted this as a challenge to results, and the stock is already down roughly 24% YTD (vs. +15% for Russell 2000). Margins in the quarter were also a bit lower than expected, as macro headwinds affect both top- and bottom-line results.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 1.9% and a 48.4% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Standard Motor Products, Methode Electronics, and Hickok Incorporated.
Currently, the analyst consensus on Unique Fabricating is a Moderate Buy with an average price target of $9.
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The company has a one-year high of $9.70 and a one-year low of $3.13. Currently, Unique Fabricating has an average volume of 10.54K.
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Unique Fabricating, Inc. engages in the engineering, manufacture, and sale of foam, rubber, and plastic components. Its products are used in noise, vibration and harshness, acoustical management, water and air sealing, decorative, and other functional applications. The company was founded in 1975 and is headquartered in Auburn Hills, MI.
