Ubiquiti (NYSE:UI) Reaches New 12-Month High – Still a Buy?

Ubiquiti Inc. (NYSE:UI) shares reached a new 52-week high on Monday . The company traded as high as $277.27 and last traded at $277.27, with a volume of 18056 shares changing hands. The stock had previously closed at $270.41.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UI. BWS Financial lifted their price objective on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Barclays lowered their price objective on shares of Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 27th. Finally, StockNews.com lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

Ubiquiti Stock Up 2.1 %

The company has a market cap of $16.70 billion, a PE ratio of 46.70 and a beta of 1.13. The stock’s 50 day moving average price is $223.34 and its 200-day moving average price is $175.03. The company has a debt-to-equity ratio of 7.05, a quick ratio of 1.59 and a current ratio of 3.22.

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

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were given a $0.60 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.40 annualized dividend and a dividend yield of 0.87%. Ubiquiti’s dividend payout ratio is 41.45%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new stake in Ubiquiti during the 2nd quarter valued at about $44,000. Raleigh Capital Management Inc. bought a new stake in shares of Ubiquiti in the third quarter worth approximately $47,000. Covestor Ltd grew its stake in shares of Ubiquiti by 29.0% in the first quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after acquiring an additional 116 shares during the period. Hanseatic Management Services Inc. bought a new stake in Ubiquiti during the third quarter valued at approximately $76,000. Finally, EntryPoint Capital LLC grew its position in Ubiquiti by 123.4% during the first quarter. EntryPoint Capital LLC now owns 735 shares of the company’s stock valued at $85,000 after buying an additional 406 shares during the period. 4.00% of the stock is owned by hedge funds and other institutional investors.

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.