Ubiquiti (NYSE:UI) Rating Lowered to Hold at Zacks Research

Ubiquiti (NYSE:UI) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

UI has been the topic of a number of other research reports. Weiss Ratings upgraded Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. BWS Financial increased their target price on Ubiquiti from $720.00 to $980.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Wall Street Zen upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Barclays increased their price objective on Ubiquiti from $455.00 to $527.00 and gave the company an “underweight” rating in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $702.33.

Ubiquiti Trading Down 2.0%

Ubiquiti stock opened at $1,006.54 on Tuesday. Ubiquiti has a 12 month low of $300.40 and a 12 month high of $1,099.99. The stock’s 50 day simple moving average is $820.60 and its two-hundred day simple moving average is $684.92. The firm has a market cap of $60.92 billion, a PE ratio of 68.57 and a beta of 1.32.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, February 6th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.80. Ubiquiti had a return on equity of 113.21% and a net margin of 29.90%.The firm had revenue of $814.87 million for the quarter, compared to analyst estimates of $716.95 million. During the same quarter last year, the firm posted $2.28 EPS. The business’s revenue was up 35.8% on a year-over-year basis. On average, equities research analysts forecast that Ubiquiti will post 14.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UI. Blue Trust Inc. increased its stake in shares of Ubiquiti by 87.5% in the 4th quarter. Blue Trust Inc. now owns 45 shares of the company’s stock worth $25,000 after acquiring an additional 21 shares during the last quarter. Cherry Tree Wealth Management LLC acquired a new stake in shares of Ubiquiti in the 3rd quarter worth $33,000. Quarry LP acquired a new stake in shares of Ubiquiti in the 3rd quarter worth $34,000. CIBC Private Wealth Group LLC increased its stake in shares of Ubiquiti by 238.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Ubiquiti by 216.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 79 shares of the company’s stock worth $44,000 after acquiring an additional 54 shares during the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

About Ubiquiti

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.