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

Ubiquiti (NYSE:UI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

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

Ubiquiti Stock Performance

NYSE:UI traded up $27.44 during mid-day trading on Monday, reaching $340.35. The company’s stock had a trading volume of 165,968 shares, compared to its average volume of 76,910. Ubiquiti has a 12-month low of $104.24 and a 12-month high of $340.78. The firm’s fifty day moving average price is $231.06 and its two-hundred day moving average price is $180.81. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05. The stock has a market cap of $20.58 billion, a P/E ratio of 52.69 and a beta of 1.13.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). The business had revenue of $507.50 million for the quarter, compared to analysts’ expectations of $538.23 million. Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Ubiquiti will post 7.09 EPS for the current fiscal year.

Institutional Trading of Ubiquiti

A number of institutional investors and hedge funds have recently modified their holdings of UI. Huntington National Bank lifted its holdings in shares of Ubiquiti by 267.6% in 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 last quarter. nVerses Capital LLC purchased a new stake in shares of Ubiquiti in the 2nd quarter valued at approximately $44,000. Raleigh Capital Management Inc. purchased a new stake in shares of Ubiquiti in the 3rd quarter valued at approximately $47,000. Covestor Ltd increased its position in shares of Ubiquiti by 29.0% in the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after purchasing an additional 116 shares during the last quarter. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Ubiquiti in the 3rd quarter valued at $76,000. 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.