BMO Capital Markets Lowers Ubiquiti Networks, Inc. (UBNT) Price Target to $60.00

Ubiquiti Networks, Inc. (NASDAQ:UBNT) had its target price lowered by research analysts at BMO Capital Markets from $66.00 to $60.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “positive” rating on the Wireless communications provider’s stock. BMO Capital Markets’ price target points to a potential downside of 4.06% from the stock’s previous close.

Several other research firms have also issued reports on UBNT. Deutsche Bank AG raised their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Monday, August 7th. Credit Suisse Group restated a “sell” rating and set a $54.00 price target on shares of Ubiquiti Networks in a report on Friday, August 4th. BidaskClub upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. ValuEngine lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Vetr upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating and set a $69.54 price target for the company in a report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $56.86.

Shares of Ubiquiti Networks (UBNT) opened at $62.54 on Friday. The company has a current ratio of 9.67, a quick ratio of 8.23 and a debt-to-equity ratio of 0.40. Ubiquiti Networks has a 1 year low of $45.71 and a 1 year high of $67.80. The company has a market cap of $4,868.24, a P/E ratio of 19.92, a P/E/G ratio of 1.12 and a beta of 0.50.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.21%. The firm had revenue of $245.90 million during the quarter, compared to analyst estimates of $240.39 million. During the same quarter last year, the business earned $0.79 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. analysts predict that Ubiquiti Networks will post 2.78 earnings per share for the current year.

Ubiquiti Networks announced that its board has authorized a stock repurchase plan on Tuesday, September 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to buy up to 18% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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In other news, insider Robert J. Pera sold 1,000,000 shares of Ubiquiti Networks stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total value of $61,250,000.00. Following the completion of the sale, the insider now owns 56,278,181 shares in the company, valued at approximately $3,447,038,586.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 70.34% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of Ubiquiti Networks by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after acquiring an additional 80 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ubiquiti Networks in the 2nd quarter valued at $144,000. Pacer Advisors Inc. increased its stake in shares of Ubiquiti Networks by 11.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock valued at $157,000 after acquiring an additional 319 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Ubiquiti Networks in the 3rd quarter valued at $178,000. Finally, Hikari Power Ltd bought a new stake in shares of Ubiquiti Networks in the 2nd quarter valued at $205,000. Institutional investors own 31.59% of the company’s stock.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

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