Barclays Lowers Ubiquiti (NYSE:UI) Price Target to $222.00

Ubiquiti (NYSE:UI) had its price objective reduced by analysts at Barclays from $236.00 to $222.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price target would indicate a potential downside of 43.45% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. BWS Financial increased their price objective on Ubiquiti from $385.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th.

Ubiquiti Stock Performance

NYSE:UI opened at $392.56 on Monday. The stock’s 50-day moving average is $369.19 and its 200-day moving average is $281.25. The stock has a market cap of $23.74 billion, a P/E ratio of 60.77 and a beta of 1.14. Ubiquiti has a 1-year low of $104.24 and a 1-year high of $469.98. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, February 14th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. Equities research analysts anticipate that Ubiquiti will post 7.21 earnings per share for the current year.

Institutional Trading of Ubiquiti

Hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new position in Ubiquiti during the 4th quarter valued at approximately $15,425,000. Zacks Investment Management purchased a new position in Ubiquiti during the third quarter valued at $8,892,000. Pacer Advisors Inc. bought a new stake in Ubiquiti in the third quarter worth $7,030,000. Wealthfront Advisers LLC purchased a new stake in shares of Ubiquiti in the fourth quarter worth $9,274,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Ubiquiti during the fourth quarter valued at $8,619,000. 4.00% of the stock is owned by institutional investors.

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.