B.Riley FBR analyst Christopher Van Horn maintained a Buy rating on Unique Fabricating (UFAB) today and set a price target of $9. The company’s shares opened today at $4.19, close to its 52-week low of $4.10.
Van Horn observed:
“Unique Fabricating (UFAB) reported 4Q18 results that were slightly better than expectations on the top-line but lower than expectations on the bottom-line. As a result, the shares were lower on the day as earnings were negatively impacted by lower-than-expected North America auto production volumes. This industry headwind was largely anticipated, in our view, as earlier 4Q18 auto supplier earnings reports highlighted it as a challenge to results. Profit margins in the quarter were also a bit lower than expected as macro headwinds affect both top- and bottom- line results. We think such inefficiencies will likely be short-lived as we believe the company is driving operational efficiencies in its existing facilities. Guidance for 2019 came in below expectations for both revenues and margins.”
According to TipRanks.com, Horn is a 4-star analyst with an average return of 3.2% and a 48.9% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Espey Mfg & Electronics, Methode Electronics, and Hickok Incorporated.
Unique Fabricating has an analyst consensus of Moderate Buy, with a price target consensus of $9.
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The company has a one-year high of $9.70 and a one-year low of $4.10. Currently, Unique Fabricating has an average volume of 21.28K.
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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.
