Ubiquiti (NYSE:UI) Stock Bumped Up to Buy by Wall Street Zen

Wall Street Zen upgraded shares of Ubiquiti (NYSE:UI) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Several other analysts also recently commented on the company. Barclays increased their target price on Ubiquiti from $489.00 to $537.00 and gave the company an “underweight” rating in a research note on Monday, November 9th. Zacks Research lowered shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 10th. Weiss Ratings downgraded shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Finally, BWS Financial reiterated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a research report on Monday, November 9th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ubiquiti presently has a consensus rating of “Hold” and an average price target of $758.50.

Ubiquiti Trading Down 2.1%

Ubiquiti stock traded down $14.43 during mid-day trading on Friday, hitting $668.78. The company had a trading volume of 65,811 shares, compared to its average volume of 90,998. The stock’s 50 day moving average price is $595.29 and its two-hundred day moving average price is $660.44. Ubiquiti has a 12 month low of $500.23 and a 12 month high of $1,099.99. The company has a market capitalization of $40.45 billion, a PE ratio of 37.76 and a beta of 1.34.

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

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, November 16th. Ubiquiti’s dividend payout ratio (DPR) is currently 22.59%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UI. Valeo Financial Advisors LLC raised its position in shares of Ubiquiti by 1.7% during the third quarter. Valeo Financial Advisors LLC now owns 1,076 shares of the company’s stock valued at $611,000 after buying an additional 18 shares during the last quarter. Greenleaf Trust lifted its position in shares of Ubiquiti by 4.3% in the 3rd quarter. Greenleaf Trust now owns 504 shares of the company’s stock worth $286,000 after acquiring an additional 21 shares during the period. Fortitude Family Office LLC lifted its position in shares of Ubiquiti by 109.5% in the 3rd quarter. Fortitude Family Office LLC now owns 44 shares of the company’s stock worth $25,000 after acquiring an additional 23 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Ubiquiti by 0.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,733 shares of the company’s stock worth $2,119,000 after acquiring an additional 23 shares during the period. Finally, Choreo LLC grew its holdings in shares of Ubiquiti by 2.8% during the 3rd quarter. Choreo LLC now owns 880 shares of the company’s stock worth $500,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

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.