Shares of Ubiquiti Networks Inc (NASDAQ:UBNT) reached a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $87.82 and last traded at $87.25, with a volume of 10671 shares traded. The stock had previously closed at $87.31.
Several analysts have recently issued reports on UBNT shares. Zacks Investment Research raised Ubiquiti Networks from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. ValuEngine lowered Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Credit Suisse Group started coverage on Ubiquiti Networks in a report on Wednesday, May 9th. They set a “neutral” rating and a $74.00 target price on the stock. BidaskClub lowered Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 11th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $74.00 target price on shares of Ubiquiti Networks in a report on Friday, May 11th. Six analysts have rated the stock with a hold rating and two have given a strong buy rating to the company. Ubiquiti Networks currently has a consensus rating of “Buy” and an average target price of $71.95.
The company has a debt-to-equity ratio of 1.63, a current ratio of 6.69 and a quick ratio of 6.08. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.75.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings data on Thursday, May 10th. The Wireless communications provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Ubiquiti Networks had a return on equity of 56.13% and a net margin of 19.15%. The business had revenue of $250.40 million during the quarter, compared to the consensus estimate of $247.92 million. During the same period in the prior year, the company earned $0.79 EPS. Ubiquiti Networks’s revenue for the quarter was up 14.7% on a year-over-year basis. equities analysts forecast that Ubiquiti Networks Inc will post 2.42 EPS for the current year.
Ubiquiti Networks announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 13th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the Wireless communications provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Several hedge funds have recently made changes to their positions in UBNT. BlackRock Inc. lifted its position in shares of Ubiquiti Networks by 8.3% during the 1st quarter. BlackRock Inc. now owns 1,601,726 shares of the Wireless communications provider’s stock worth $110,198,000 after buying an additional 123,254 shares during the last quarter. Hunt Lane Capital LP lifted its position in shares of Ubiquiti Networks by 10.9% during the 4th quarter. Hunt Lane Capital LP now owns 698,544 shares of the Wireless communications provider’s stock worth $49,611,000 after buying an additional 68,544 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Ubiquiti Networks during the 4th quarter worth $4,681,000. Bank of New York Mellon Corp lifted its position in shares of Ubiquiti Networks by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 188,899 shares of the Wireless communications provider’s stock worth $13,416,000 after buying an additional 33,272 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new stake in shares of Ubiquiti Networks during the 4th quarter worth $1,969,000. Institutional investors and hedge funds own 30.38% of the company’s stock.
Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.
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