Motor vehicle part company Unique Fabricating (NYSE:UFAB) reported improved top-line and bottom-line numbers in the second quarter. While the stock has outperformed the broader market over the past month, can it maintain the momentum? Read on.Engineer and manufacturer of components for transportation, appliance, medical, and consumer markets Unique Fabricating, Inc.’s (UFAB) shares have gained 19.7% over the past month. However, it is currently trading 56% below its all-time high of $7.51, which it hit on January 26 and 27. While UFAB reported improved top-line and bottom-line results in the second quarter, the company faces ongoing labor shortages and supply chain challenges.
However, UFAB is well-positioned to continue gaining in the near term relying on its solid fundamentals. Moreover, Doug Cain, UFAB’s President and CEO, said, “Industry forecasts continue to point to near-term recovery, and it appears there is meaningful pent-up demand.” So, UFAB’s near-term prospects look bright.
Here’s what could influence UFAB’s performance in the upcoming months: