Ubiquiti Networks (NASDAQ:UBNT) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Friday, January 12th. BMO Capital Markets decreased their price target on Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating on the stock in a research report on Friday, November 10th. BidaskClub upgraded Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 19th. Vetr lowered Ubiquiti Networks from a “hold” rating to a “sell” rating and set a $71.07 price target on the stock. in a research report on Thursday, January 4th. Finally, Deutsche Bank increased their price target on Ubiquiti Networks from $47.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $65.75.
Shares of Ubiquiti Networks (NASDAQ:UBNT) opened at $70.04 on Tuesday. The company has a market capitalization of $5,450.00, a P/E ratio of 39.57, a P/E/G ratio of 1.20 and a beta of 0.58. Ubiquiti Networks has a 12-month low of $45.71 and a 12-month high of $82.30. The company has a current ratio of 10.94, a quick ratio of 10.00 and a debt-to-equity ratio of 0.95.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.06. The business had revenue of $250.80 million for the quarter, compared to analyst estimates of $239.89 million. Ubiquiti Networks had a return on equity of 47.42% and a net margin of 15.73%. Ubiquiti Networks’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. analysts anticipate that Ubiquiti Networks will post 3.08 earnings per share for the current year.
Ubiquiti Networks declared that its board has initiated a stock repurchase program on Thursday, November 9th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the Wireless communications provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
A number of large investors have recently bought and sold shares of the business. Carnegie Capital Asset Management LLC lifted its holdings in Ubiquiti Networks by 4.6% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 55,375 shares of the Wireless communications provider’s stock worth $4,347,000 after buying an additional 2,415 shares in the last quarter. Schroder Investment Management Group acquired a new position in Ubiquiti Networks during the 4th quarter worth $4,681,000. Bank of New York Mellon Corp lifted its holdings in Ubiquiti Networks by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 188,899 shares of the Wireless communications provider’s stock worth $13,416,000 after buying an additional 33,272 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Ubiquiti Networks during the 4th quarter worth $625,000. Finally, Teacher Retirement System of Texas acquired a new position in Ubiquiti Networks during the 4th quarter worth $689,000. 33.33% of the stock is currently owned by hedge funds and other institutional investors.
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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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