Universal Electronics (NASDAQ:UEIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a strong-buy rating in a report released on Monday,Wall Street Zen reports.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Universal Electronics in a research note on Friday, September 18th. Zacks Research raised Universal Electronics to a “hold” rating in a research report on Monday, October 5th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $5.00 price target on shares of Universal Electronics in a research report on Friday, August 7th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $5.00.

Universal Electronics Trading Up 14.5%

NASDAQ:UEIC opened at $6.17 on Monday. Universal Electronics has a 1-year low of $2.69 and a 1-year high of $6.31. The firm has a fifty day simple moving average of $5.21 and a 200 day simple moving average of $4.52. The stock has a market capitalization of $79.59 million, a PE ratio of -10.82 and a beta of 1.30.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, November 5th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The firm had revenue of $89.42 million for the quarter, compared to analyst estimates of $76.97 million. Universal Electronics had a negative net margin of 2.16% and a positive return on equity of 4.02%. On average, equities analysts predict that Universal Electronics will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Universal Electronics news, insider Toro 18 Holdings Llc sold 105,541 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $4.63, for a total value of $488,654.83. Following the transaction, the insider directly owned 1,101,832 shares in the company, valued at $5,101,482.16. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 242,815 shares of company stock worth $1,157,304 over the last three months. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Universal Electronics

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Universal Electronics during the 2nd quarter worth about $1,860,000. Empowered Funds LLC acquired a new position in Universal Electronics in the 2nd quarter valued at about $349,000. Marquette Asset Management LLC bought a new position in Universal Electronics in the 2nd quarter valued at about $303,000. Man Group plc bought a new position in Universal Electronics in the 2nd quarter valued at about $241,000. Finally, Hsbc Holdings PLC bought a new position in Universal Electronics in the 2nd quarter valued at about $108,000. 79.35% of the stock is owned by institutional investors.

About Universal Electronics

Universal Electronics Inc. (NASDAQ: UEIC) designs, develops and distributes consumer electronics products and technologies that simplify the control of home entertainment and smart-home devices. Its offerings include universal remote controls, wireless home-control products, audio and video accessories, and related software and connected-device solutions. The company serves original equipment manufacturers, subscription television providers, retailers and consumers. Its products are marketed under the One For All and other company brands, as well as through private-label and licensed-brand arrangements.