Ubiquiti Networks, Inc. (NASDAQ:UBNT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other brokerages have also recently weighed in on UBNT. Vetr cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating and set a $56.18 price target for the company. in a research note on Monday, July 31st. Deutsche Bank AG increased their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. JMP Securities reiterated a “market perform” rating on shares of Ubiquiti Networks in a research note on Wednesday, September 27th. BMO Capital Markets decreased their price target on shares of Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating for the company in a research note on Friday. Finally, BidaskClub upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $56.86.

Ubiquiti Networks (NASDAQ UBNT) opened at $62.54 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 9.67 and a quick ratio of 8.23. The company has a market cap of $4,875.25, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.12 and a beta of 0.50. Ubiquiti Networks has a 52-week low of $45.71 and a 52-week high of $67.80.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.06. The firm had revenue of $245.90 million during the quarter, compared to analysts’ expectations of $240.39 million. Ubiquiti Networks had a net margin of 30.47% and a return on equity of 51.68%. Ubiquiti Networks’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. research analysts predict that Ubiquiti Networks will post 2.78 earnings per share for the current fiscal year.

Ubiquiti Networks announced that its board has approved a stock buyback program on Tuesday, September 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the Wireless communications provider to buy up to 18% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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In other news, insider Robert J. Pera sold 1,000,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total value of $61,250,000.00. Following the completion of the sale, the insider now owns 56,278,181 shares in the company, valued at approximately $3,447,038,586.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 70.34% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of Ubiquiti Networks by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after acquiring an additional 80 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Ubiquiti Networks in the 2nd quarter worth $144,000. Pacer Advisors Inc. lifted its stake in shares of Ubiquiti Networks by 11.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock worth $157,000 after acquiring an additional 319 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Ubiquiti Networks in the 3rd quarter worth $178,000. Finally, Hikari Power Ltd acquired a new stake in shares of Ubiquiti Networks in the 2nd quarter worth $205,000. Institutional investors own 31.59% of the company’s stock.

Ubiquiti Networks Company Profile

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

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