StockNews.com Upgrades Ubiquiti (NYSE:UI) to “Buy”

StockNews.com upgraded shares of Ubiquiti (NYSE:UI) from a hold rating to a buy rating in a research note issued to investors on Monday.

Other equities research analysts have also recently issued reports about the stock. BWS Financial increased their price objective on shares of Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday. Barclays increased their price target on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research report on Monday.

Ubiquiti Price Performance

UI stock opened at $340.35 on Monday. The firm has a 50 day moving average of $234.00 and a 200-day moving average of $182.44. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 52.69 and a beta of 1.13. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05. Ubiquiti has a 12-month low of $104.24 and a 12-month high of $340.78.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.17). The firm had revenue of $507.50 million for the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that Ubiquiti will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s dividend payout ratio is presently 37.15%.

Institutional Trading of Ubiquiti

Several hedge funds and other institutional investors have recently bought and sold shares of UI. Huntington National Bank lifted its holdings in shares of Ubiquiti by 267.6% during the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after acquiring an additional 91 shares during the period. nVerses Capital LLC purchased a new position in Ubiquiti during the second quarter worth approximately $44,000. Raleigh Capital Management Inc. acquired a new position in shares of Ubiquiti in the 3rd quarter valued at $47,000. Covestor Ltd grew its stake in shares of Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after buying an additional 116 shares during the period. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Ubiquiti during the 3rd quarter worth $76,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

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.