Ubiquiti (NYSE:UI) Raised to Buy at StockNews.com

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 morning.

A number of other research firms also recently weighed in on UI. BWS Financial increased their target price on shares of Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research report on Monday. Barclays boosted their target price on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research note on Monday.

Ubiquiti Stock Performance

Shares of UI opened at $343.12 on Monday. The stock has a 50 day moving average of $240.05 and a 200 day moving average of $185.22. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 53.11 and a beta of 1.13. Ubiquiti has a 12 month low of $104.24 and a 12 month high of $355.31. The company has a current ratio of 2.54, a quick ratio of 1.59 and a debt-to-equity ratio of 2.80.

Ubiquiti (NYSE:UI) last released its 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). The business had revenue of $507.50 million for the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ubiquiti will post 7.09 earnings per share for the current year.

Ubiquiti Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SW Investment Management LLC boosted its stake in Ubiquiti by 9.1% in the 2nd quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock worth $43,698,000 after purchasing an additional 25,000 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Ubiquiti by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company’s stock worth $20,349,000 after buying an additional 2,041 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Ubiquiti by 24.1% in the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock valued at $11,332,000 after acquiring an additional 18,986 shares during the period. Millennium Management LLC grew its stake in Ubiquiti by 86.2% during the second quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock valued at $8,499,000 after acquiring an additional 27,011 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Ubiquiti during the 3rd quarter worth approximately $7,030,000. 4.00% of the stock is currently 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.