Vetr upgraded shares of Ubiquiti Networks (NASDAQ:UBNT) from a sell rating to a hold rating in a report published on Monday, February 5th. Vetr currently has $74.74 price objective on the Wireless communications provider’s stock.
A number of other research firms also recently commented on UBNT. Zacks Investment Research downgraded Ubiquiti Networks from a hold rating to a sell rating in a report on Tuesday, January 23rd. BidaskClub raised Ubiquiti Networks from a buy rating to a strong-buy rating in a report on Tuesday, December 19th. ValuEngine cut Ubiquiti Networks from a buy rating to a hold rating in a research report on Thursday, November 16th. Finally, BMO Capital Markets reduced their price target on Ubiquiti Networks from $66.00 to $60.00 and set a positive rating for the company in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company. Ubiquiti Networks currently has a consensus rating of Hold and a consensus price target of $65.75.
Shares of Ubiquiti Networks (UBNT) traded down $0.51 during midday trading on Monday, reaching $70.04. The company’s stock had a trading volume of 434,250 shares, compared to its average volume of 392,657. The company has a debt-to-equity ratio of 0.95, a quick ratio of 10.00 and a current ratio of 10.94. The firm has a market capitalization of $5,450.00, a P/E ratio of 39.57, a PEG ratio of 1.20 and a beta of 0.58. Ubiquiti Networks has a fifty-two week low of $45.71 and a fifty-two week high of $82.30.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. Ubiquiti Networks had a return on equity of 47.42% and a net margin of 15.73%. The business had revenue of $250.80 million during the quarter, compared to the consensus estimate of $239.89 million. During the same quarter last year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. analysts expect that Ubiquiti Networks will post 3.08 EPS for the current year.
Ubiquiti Networks announced that its Board of Directors has initiated a share buyback program on Thursday, November 9th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the Wireless communications provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Several large investors have recently modified their holdings of UBNT. Alliancebernstein L.P. boosted its stake in shares of Ubiquiti Networks by 15.2% in the second quarter. Alliancebernstein L.P. now owns 45,550 shares of the Wireless communications provider’s stock worth $2,367,000 after acquiring an additional 6,000 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Ubiquiti Networks by 4.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after acquiring an additional 80 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Ubiquiti Networks by 6.1% in the second quarter. UBS Asset Management Americas Inc. now owns 15,894 shares of the Wireless communications provider’s stock worth $826,000 after acquiring an additional 916 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Ubiquiti Networks by 18.1% in the second quarter. M&T Bank Corp now owns 6,351 shares of the Wireless communications provider’s stock worth $330,000 after acquiring an additional 975 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Ubiquiti Networks by 8.6% in the second quarter. Voya Investment Management LLC now owns 12,920 shares of the Wireless communications provider’s stock worth $671,000 after acquiring an additional 1,027 shares during the last quarter. 33.33% of the stock is currently owned by hedge funds and other institutional investors.
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Ubiquiti Networks Company Profile
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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