Ubiquiti (NYSE:UI) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Ubiquiti (NYSE:UI) from a hold rating to a buy rating in a report issued on Sunday.

A number of other analysts also recently weighed in on UI. BWS Financial increased their price objective on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays boosted their target price on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research report on Monday, November 11th.

Ubiquiti Price Performance

UI stock opened at $335.14 on Friday. Ubiquiti has a 12 month low of $104.24 and a 12 month high of $355.31. The firm has a market cap of $20.27 billion, a P/E ratio of 51.88 and a beta of 1.13. The company has a quick ratio of 1.59, a current ratio of 2.54 and a debt-to-equity ratio of 2.80. The company’s 50-day moving average price is $245.98 and its two-hundred day moving average price is $189.00.

Ubiquiti (NYSE:UI) last released its quarterly earnings data 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 return on equity of 532.06% and a net margin of 19.36%. The company had revenue of $507.50 million for the quarter, compared to analyst estimates of $538.23 million. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Ubiquiti will post 7.09 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.72%. Ubiquiti’s dividend payout ratio is currently 37.15%.

Institutional Investors Weigh In On Ubiquiti

Hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its position in shares of Ubiquiti by 3.9% in the third quarter. US Bancorp DE now owns 1,537 shares of the company’s stock valued at $341,000 after purchasing an additional 57 shares during the period. CIBC Asset Management Inc grew 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 buying an additional 58 shares in the last quarter. Huntington National Bank raised its holdings in Ubiquiti by 267.6% during the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after acquiring an additional 91 shares during the period. Covestor Ltd boosted its holdings 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. Finally, Willis Investment Counsel grew its position in shares of Ubiquiti by 6.0% in the third quarter. Willis Investment Counsel now owns 3,250 shares of the company’s stock valued at $721,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 4.00% of the company’s stock.

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.