Ubiquiti (NYSE:UI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Ubiquiti (NYSE:UI) from a hold rating to a buy rating in a research note released on Monday morning.

A number of other research firms also recently weighed in on UI. BWS Financial raised their price target on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research report on Monday. Barclays raised their price objective on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a report on Monday.

Ubiquiti Stock Up 1.7 %

Shares of NYSE UI opened at $343.12 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.59 and a debt-to-equity ratio of 2.80. The business has a 50-day moving average of $240.05 and a 200-day moving average of $185.22. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 53.11 and a beta of 1.13. Ubiquiti has a 12 month low of $104.24 and a 12 month high of $355.31.

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

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, November 18th. This represents a $2.40 annualized dividend and a yield of 0.70%. Ubiquiti’s payout ratio is 37.15%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. US Bancorp DE grew its position in Ubiquiti by 3.9% during the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company’s stock worth $341,000 after acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Ubiquiti by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock worth $392,000 after purchasing an additional 58 shares during the last quarter. Huntington National Bank increased its stake in shares of Ubiquiti by 267.6% in the third quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after buying an additional 91 shares during the period. Covestor Ltd raised its holdings in Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after buying an additional 116 shares during the last quarter. Finally, Willis Investment Counsel boosted its position in Ubiquiti by 6.0% during the 3rd quarter. Willis Investment Counsel now owns 3,250 shares of the company’s stock valued at $721,000 after buying an additional 185 shares during the period. Hedge funds and other 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.