Zacks Research cut shares of Ubiquiti (NYSE:UI – Free Report) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks reports.
A number of other equities research analysts have also weighed in on the stock. BWS Financial reiterated a “buy” rating and set a $980.00 target price on shares of Ubiquiti in a research note on Monday. Barclays increased their price target on Ubiquiti from $489.00 to $537.00 and gave the company an “underweight” rating in a report on Monday. Finally, Weiss Ratings downgraded Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $758.50.
Check Out Our Latest Stock Report on UI
Ubiquiti Stock Down 0.9%
Shares of UI stock opened at $679.55 on Tuesday. The company has a 50 day moving average price of $592.20 and a 200-day moving average price of $659.16. Ubiquiti has a 52 week low of $500.23 and a 52 week high of $1,099.99. The firm has a market capitalization of $41.10 billion, a PE ratio of 38.37 and a beta of 1.34.
Ubiquiti (NYSE:UI – Get Free Report) last issued its quarterly earnings data on Friday, November 6th. The company reported $5.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $977.45 million. Analysts anticipate that Ubiquiti will post 16.94 earnings per share for the current year.
Ubiquiti Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 16th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. Ubiquiti’s dividend payout ratio (DPR) is presently 22.59%.
Institutional Trading of Ubiquiti
Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new stake in shares of Ubiquiti during the 2nd quarter valued at $17,647,000. Diversify Advisory Services LLC purchased a new stake in shares of Ubiquiti in the 2nd quarter worth $1,526,000. Canada Pension Plan Investment Board purchased a new stake in shares of Ubiquiti in the 2nd quarter worth $19,140,000. Militia Capital Management LLC purchased a new stake in shares of Ubiquiti in the 1st quarter worth $1,581,000. Finally, Deutsche Bank AG bought a new position in Ubiquiti in the 2nd quarter worth $12,832,000. 4.00% of the stock is currently owned by institutional investors.
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.
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