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

Ubiquiti (NYSE:UI)‘s stock had its “buy” rating restated by equities research analysts at BWS Financial in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $980.00 price objective on the stock. BWS Financial’s target price would indicate a potential upside of 74.85% from the stock’s current price.

A number of other equities research analysts have also commented on UI. Weiss Ratings lowered Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Zacks Research raised shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 18th. Finally, Barclays reduced their price target on shares of Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $734.50.

Ubiquiti Stock Up 1.3%

Shares of UI stock traded up $7.12 during mid-day trading on Tuesday, reaching $560.50. 9,651 shares of the stock traded hands, compared to its average volume of 120,692. The stock’s fifty day simple moving average is $566.56 and its two-hundred day simple moving average is $664.70. Ubiquiti has a 1-year low of $500.23 and a 1-year high of $1,099.99. The company has a market cap of $33.93 billion, a price-to-earnings ratio of 35.36 and a beta of 1.31.

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

Institutional Investors Weigh In On Ubiquiti

Several institutional investors have recently made changes to their positions in UI. Corient Private Wealth LLC boosted its position in shares of Ubiquiti by 73,940.4% in the fourth quarter. Corient Private Wealth LLC now owns 1,113,568 shares of the company’s stock valued at $616,193,000 after acquiring an additional 1,112,064 shares during the period. BlackRock Inc. bought a new position in shares of Ubiquiti during the 2nd quarter valued at $163,010,000. Arrowstreet Capital Limited Partnership increased its stake in Ubiquiti by 11.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 183,464 shares of the company’s stock worth $101,520,000 after purchasing an additional 19,504 shares during the period. Capital World Investors increased its position in shares of Ubiquiti by 16.2% in the fourth quarter. Capital World Investors now owns 100,056 shares of the company’s stock valued at $55,366,000 after acquiring an additional 13,970 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Ubiquiti during the 2nd quarter valued at approximately $30,086,000. 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.