Ubiquiti (NYSE:UI) Price Target Raised to $385.00 at BWS Financial

Ubiquiti (NYSE:UI) had its target price hoisted by BWS Financial from $240.00 to $385.00 in a research note issued to investors on Monday,Benzinga reports. BWS Financial currently has a buy rating on the stock.

A number of other brokerages also recently commented on UI. Barclays boosted their target price on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday. StockNews.com cut Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

Ubiquiti Price Performance

UI stock opened at $340.35 on Monday. The business’s 50-day moving average is $234.00 and its two-hundred day moving average is $182.44. The company has a debt-to-equity ratio of 7.05, a current ratio of 3.22 and a quick ratio of 1.59. The firm has a market capitalization of $20.58 billion, a P/E ratio of 52.69 and a beta of 1.13. Ubiquiti has a 1 year low of $104.24 and a 1 year high of $340.78.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.17). Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The firm had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts anticipate that Ubiquiti will post 7.09 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s payout ratio is 37.15%.

Institutional Investors Weigh In On Ubiquiti

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caprock Group LLC purchased a new position in Ubiquiti during the 3rd quarter worth approximately $235,000. Empowered Funds LLC acquired a new stake in shares of Ubiquiti in the third quarter valued at approximately $323,000. CIBC Asset Management Inc grew its position in shares of Ubiquiti by 3.4% during the third quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock worth $392,000 after acquiring an additional 58 shares during the last quarter. Huntington National Bank increased its holdings in shares of Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after acquiring an additional 91 shares during the period. Finally, Versor Investments LP purchased a new stake in Ubiquiti in the 3rd quarter valued at $244,000. 4.00% of the stock is currently owned by institutional investors and hedge funds.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.