Ubiquiti Networks (UBNT) Downgraded by BidaskClub

BidaskClub cut shares of Ubiquiti Networks (NASDAQ:UBNT) from a strong-buy rating to a buy rating in a report released on Wednesday.

A number of other research analysts also recently weighed in on the stock. ValuEngine raised shares of Ubiquiti Networks from a hold rating to a buy rating in a research report on Friday, March 2nd. Zacks Investment Research raised shares of Ubiquiti Networks from a sell rating to a hold rating in a research report on Thursday, February 15th. TheStreet downgraded shares of Ubiquiti Networks from an a rating to a c+ rating in a research report on Friday, February 9th. BMO Capital Markets raised their target price on shares of Ubiquiti Networks from $60.00 to $63.00 and gave the company a market perform rating in a research report on Friday, February 9th. Finally, Deutsche Bank raised their target price on shares of Ubiquiti Networks from $47.00 to $55.00 and gave the company a hold rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $65.75.

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Shares of NASDAQ:UBNT opened at $71.78 on Wednesday. The firm has a market cap of $5,530.52, a P/E ratio of 23.23, a P/E/G ratio of 1.99 and a beta of 0.79. 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 earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $250.80 million during the quarter, compared to the consensus estimate of $239.89 million. Ubiquiti Networks had a net margin of 15.73% and a return on equity of 47.42%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. research analysts predict that Ubiquiti Networks will post 1.93 earnings per share for the current fiscal year.

Ubiquiti Networks declared that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado bought a new position in shares of Ubiquiti Networks in the 4th quarter valued at about $104,000. Xact Kapitalforvaltning AB bought a new position in shares of Ubiquiti Networks in the 4th quarter valued at about $203,000. Amalgamated Bank bought a new position in shares of Ubiquiti Networks in the 4th quarter valued at about $216,000. HPM Partners LLC bought a new position in shares of Ubiquiti Networks in the 4th quarter valued at about $217,000. Finally, Aperio Group LLC bought a new position in shares of Ubiquiti Networks in the 4th quarter valued at about $251,000. 31.10% of the stock is owned by institutional investors.

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Ubiquiti Networks Company Profile

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.

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