Ubiquiti (NYSE:UI) Price Target Raised to $236.00 at Barclays

Ubiquiti (NYSE:UI) had its price objective raised by Barclays from $104.00 to $236.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities analysts also recently weighed in on the company. BWS Financial boosted their target price on Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, August 26th. StockNews.com cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

Ubiquiti Trading Up 1.7 %

Shares of UI opened at $343.12 on Monday. Ubiquiti has a fifty-two week low of $104.24 and a fifty-two week high of $355.31. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.59 and a current ratio of 2.54. The company’s fifty day moving average is $240.05 and its 200 day moving average is $185.22. The stock has a market capitalization of $20.75 billion, a PE ratio of 53.11 and a beta of 1.13.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. The business had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that Ubiquiti will post 7.09 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a $0.60 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.70%. Ubiquiti’s payout ratio is 37.15%.

Hedge Funds Weigh In On Ubiquiti

A number of large investors have recently bought and sold shares of the business. Huntington National Bank lifted its position in shares of Ubiquiti by 267.6% during the third quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after purchasing an additional 91 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in Ubiquiti in the 3rd quarter valued at about $47,000. nVerses Capital LLC bought a new position in Ubiquiti in the 2nd quarter worth about $44,000. Hanseatic Management Services Inc. purchased a new position in shares of Ubiquiti during the third quarter worth approximately $76,000. Finally, Covestor Ltd raised its stake in shares of Ubiquiti by 29.0% during the first quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

About Ubiquiti

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.