Ubiquiti (NYSE:UI) Rating Lowered to Hold at Zacks Research

Ubiquiti (NYSE:UI) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

A number of other analysts also recently issued reports on UI. Barclays raised their price target on Ubiquiti from $489.00 to $537.00 and gave the stock an “underweight” rating in a research report on Monday. BWS Financial reiterated a “buy” rating and set a $980.00 price objective on shares of Ubiquiti in a research report on Monday. Finally, Weiss Ratings downgraded shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $758.50.

Ubiquiti Price Performance

UI stock opened at $679.55 on Tuesday. The company has a market cap of $41.10 billion, a P/E ratio of 38.37 and a beta of 1.34. Ubiquiti has a 1 year low of $500.23 and a 1 year high of $1,099.99. The stock’s fifty day moving average price is $592.20 and its 200-day moving average price is $659.16.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, November 6th. The company reported $5.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.25 by $1.07. Ubiquiti had a net margin of 30.08% and a return on equity of 80.29%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $977.45 million. As a group, analysts expect that Ubiquiti will post 16.94 earnings per share for the current year.

Hedge Funds Weigh In On Ubiquiti

Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new stake in shares of Ubiquiti in the third quarter worth approximately $9,650,000. Edmond DE Rothschild Holding S.A. grew its stake in shares of Ubiquiti by 16.7% in the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 700 shares of the company’s stock valued at $397,000 after buying an additional 100 shares during the period. Private Advisor Group LLC purchased a new position in Ubiquiti in the third quarter worth approximately $367,000. Ieq Capital LLC increased its position in shares of Ubiquiti by 168.6% during the 3rd quarter. Ieq Capital LLC now owns 1,128 shares of the company’s stock worth $640,000 after purchasing an additional 708 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Ubiquiti by 0.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,733 shares of the company’s stock worth $2,119,000 after acquiring an additional 23 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

About Ubiquiti

Ubiquiti Inc. develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, switches and broadband wireless equipment, along with network management software and security devices such as cameras and access control systems. The company markets products under brands including UniFi, airMAX, EdgeMAX and AmpliFi. Its UniFi platform brings together networking, video surveillance and access control products with centralized management tools.