Ubiquiti (NYSE:UI) Downgraded by Zacks Research to Hold

Ubiquiti (NYSE:UI) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

A number of other equities research analysts have also recently weighed in on the company. Barclays boosted their price objective on Ubiquiti from $489.00 to $537.00 and gave the company an “underweight” rating in a research note on Monday. Weiss Ratings lowered shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $980.00 target price on shares of Ubiquiti in a report on Monday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ubiquiti currently has a consensus rating of “Hold” and a consensus price target of $758.50.

Ubiquiti Trading Down 0.9%

UI stock opened at $679.55 on Tuesday. The stock has a market cap of $41.10 billion, a P/E ratio of 38.75 and a beta of 1.34. Ubiquiti has a twelve month low of $500.23 and a twelve month high of $1,099.99. The company’s 50 day moving average is $592.20 and its two-hundred day moving average is $659.16.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, November 6th. The company reported $5.32 EPS for the quarter, beating analysts’ consensus estimates of $4.25 by $1.07. Ubiquiti had a net margin of 30.08% and a return on equity of 80.29%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $977.45 million. On average, equities research analysts predict that Ubiquiti will post 16.94 earnings per share for the current year.

Institutional Trading of Ubiquiti

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in Ubiquiti in the second quarter valued at $17,647,000. Diversify Advisory Services LLC acquired a new position in shares of Ubiquiti during the 2nd quarter worth $1,526,000. Canada Pension Plan Investment Board acquired a new position in shares of Ubiquiti during the 2nd quarter worth $19,140,000. Militia Capital Management LLC purchased a new position in shares of Ubiquiti in the 1st quarter valued at about $1,581,000. Finally, Deutsche Bank AG purchased a new position in shares of Ubiquiti in the 2nd quarter valued at about $12,832,000. 4.00% of the stock is owned by institutional investors and hedge funds.

About Ubiquiti

Ubiquiti Inc. develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, switches and broadband wireless equipment, along with network management software and security devices such as cameras and access control systems. The company markets products under brands including UniFi, airMAX, EdgeMAX and AmpliFi. Its UniFi platform brings together networking, video surveillance and access control products with centralized management tools.