Ubiquiti (NYSE:UI) Stock Price Expected to Rise, Barclays Analyst Says

Ubiquiti (NYSE:UI) had its target price increased by Barclays from $222.00 to $247.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Separately, BWS Financial restated a “buy” rating and set a $440.00 price objective on shares of Ubiquiti in a research report on Monday.

Ubiquiti Stock Performance

Shares of UI stock opened at $424.18 on Monday. The business’s 50-day moving average price is $321.95 and its 200-day moving average price is $338.84. Ubiquiti has a 12 month low of $134.72 and a 12 month high of $469.98. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 57.63 and a beta of 1.32. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same quarter in the prior year, the business earned $1.36 earnings per share. Equities research analysts forecast that Ubiquiti will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, May 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.57%. Ubiquiti’s dividend payout ratio is 26.43%.

Institutional Investors Weigh In On Ubiquiti

Several hedge funds and other institutional investors have recently modified their holdings of UI. TD Asset Management Inc purchased a new position in shares of Ubiquiti during the first quarter valued at approximately $34,013,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company’s stock valued at $37,609,000 after buying an additional 102,268 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of Ubiquiti during the first quarter valued at approximately $18,897,000. AQR Capital Management LLC boosted its position in shares of Ubiquiti by 100.1% during the fourth quarter. AQR Capital Management LLC now owns 99,199 shares of the company’s stock valued at $32,927,000 after buying an additional 49,616 shares during the last quarter. Finally, Norges Bank purchased a new position in Ubiquiti in the fourth quarter worth $16,166,000. 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.