StockNews.com Upgrades Ubiquiti (NYSE:UI) to “Buy”

Ubiquiti (NYSE:UI) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other brokerages have also issued reports on UI. BWS Financial lifted their price target on shares of Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday. Barclays increased their price target on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research report on Monday.

Ubiquiti Price Performance

UI stock opened at $349.82 on Monday. The stock has a 50-day moving average price of $234.00 and a two-hundred day moving average price of $182.44. Ubiquiti has a 1 year low of $104.24 and a 1 year high of $352.90. The stock has a market cap of $21.15 billion, a PE ratio of 52.69 and a beta of 1.13. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The firm had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. Ubiquiti’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Ubiquiti will post 7.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. US Bancorp DE raised its holdings in Ubiquiti by 3.9% in the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company’s stock valued at $341,000 after acquiring an additional 57 shares during the period. CIBC Asset Management Inc boosted its stake in Ubiquiti by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock valued at $392,000 after purchasing an additional 58 shares during the period. Huntington National Bank grew its holdings in Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after buying an additional 91 shares in the last quarter. Covestor Ltd increased its position in Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after buying an additional 116 shares during the period. Finally, Willis Investment Counsel lifted its holdings in shares of Ubiquiti by 6.0% during the third quarter. Willis Investment Counsel now owns 3,250 shares of the company’s stock worth $721,000 after buying an additional 185 shares in the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.