Ubiquiti (NYSE:UI) Price Target Raised to $385.00

Ubiquiti (NYSE:UI) had its price objective hoisted by BWS Financial from $240.00 to $385.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Barclays raised their price target on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research report on Monday.

Ubiquiti Trading Down 3.4 %

NYSE UI opened at $337.45 on Monday. Ubiquiti has a 1 year low of $104.24 and a 1 year high of $355.31. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.59. The company has a market capitalization of $20.41 billion, a PE ratio of 52.63 and a beta of 1.13. The company has a fifty day moving average of $237.09 and a 200 day moving average of $184.15.

Ubiquiti (NYSE:UI) last issued its 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%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts forecast that Ubiquiti will post 7.09 earnings per share for the current year.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s payout ratio is 37.15%.

Hedge Funds Weigh In On Ubiquiti

A number of hedge funds have recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Ubiquiti by 3.9% in the third 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 lifted its holdings in Ubiquiti by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock valued at $392,000 after purchasing an additional 58 shares in the last quarter. Huntington National Bank lifted its holdings in Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after purchasing an additional 91 shares in the last quarter. Covestor Ltd boosted its stake in Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after purchasing an additional 116 shares during the last quarter. Finally, Willis Investment Counsel grew its holdings in shares of Ubiquiti by 6.0% during the third quarter. Willis Investment Counsel now owns 3,250 shares of the company’s stock worth $721,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds 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.