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

Ubiquiti (NYSE:UI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Sunday.

UI has been the topic of several other research reports. Barclays raised their target price on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. BWS Financial increased their price target on shares of Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 11th.

Ubiquiti Stock Up 0.2 %

Shares of NYSE UI opened at $335.22 on Friday. The stock has a market capitalization of $20.27 billion, a P/E ratio of 51.89 and a beta of 1.13. Ubiquiti has a one year low of $104.24 and a one year high of $355.31. The firm’s 50 day simple moving average is $248.86 and its two-hundred day simple moving average is $190.57. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32.

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

Institutional Trading of Ubiquiti

Large investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in Ubiquiti by 3.9% during the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company’s stock valued at $341,000 after acquiring an additional 57 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Ubiquiti by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock valued at $392,000 after purchasing an additional 58 shares during the period. Huntington National Bank boosted 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 valued at $28,000 after purchasing an additional 91 shares in the last quarter. Covestor Ltd grew its stake in Ubiquiti by 29.0% in the first quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after purchasing an additional 116 shares during the period. Finally, Willis Investment Counsel raised its holdings in Ubiquiti by 6.0% in the third quarter. Willis Investment Counsel now owns 3,250 shares of the company’s stock worth $721,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Company Profile

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.