Ubiquiti (NYSE:UI) Stock Keeps Buy Rating at BWS Financial

Ubiquiti (NYSE:UI)‘s stock had its “buy” rating reiterated by investment analysts at BWS Financial in a report issued on Tuesday, Benzinga reports. They presently have a $980.00 price target on the stock. BWS Financial’s price objective indicates a potential upside of 58.80% from the stock’s current price.

A number of other brokerages have also weighed in on UI. Weiss Ratings lowered shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a report on Friday, September 18th. Finally, Barclays decreased their target price on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a research report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $734.50.

Ubiquiti Stock Down 0.5%

Shares of UI stock traded down $3.38 during trading hours on Tuesday, hitting $617.14. 19,878 shares of the company’s stock were exchanged, compared to its average volume of 120,426. Ubiquiti has a fifty-two week low of $500.23 and a fifty-two week high of $1,099.99. The firm has a market cap of $37.36 billion, a P/E ratio of 38.93 and a beta of 1.30. The firm has a 50 day moving average of $571.08 and a two-hundred day moving average of $659.79.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, August 21st. The company reported $4.73 EPS for the quarter, topping the consensus estimate of $4.03 by $0.70. The company had revenue of $937.32 million during the quarter, compared to analyst estimates of $850.50 million. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. During the same quarter in the previous year, the firm earned $4.41 EPS. On average, equities analysts forecast that Ubiquiti will post 16.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ubiquiti

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Ubiquiti by 20.8% in the first quarter. EverSource Wealth Advisors LLC now owns 145 shares of the company’s stock valued at $115,000 after buying an additional 25 shares during the last quarter. Vision Retirement LLC acquired a new position in shares of Ubiquiti in the 1st quarter worth approximately $25,000. Assetmark Inc. boosted its position in shares of Ubiquiti by 0.9% during the 1st quarter. Assetmark Inc. now owns 4,631 shares of the company’s stock worth $3,660,000 after purchasing an additional 40 shares during the period. Wedmont Private Capital boosted its position in shares of Ubiquiti by 6.2% during the 2nd quarter. Wedmont Private Capital now owns 771 shares of the company’s stock worth $425,000 after purchasing an additional 45 shares during the period. Finally, CIBC Asset Management Inc raised its position in Ubiquiti by 2.7% in the fourth quarter. CIBC Asset Management Inc now owns 1,964 shares of the company’s stock valued at $1,087,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Ubiquiti Company Profile

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company designs products intended to deliver wireless connectivity, network management, security and other communications capabilities, with an emphasis on scalable and easy-to-deploy solutions.

Its product portfolio includes wireless access points, routers, switches, gateways, broadband wireless equipment, network management software, video surveillance systems, security and access-control products, and smart-home devices.