BWS Financial Forecasts Strong Price Appreciation for Ubiquiti (NYSE:UI) Stock

Ubiquiti (NYSE:UI) had its price objective upped by BWS Financial from $240.00 to $385.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the company. Barclays upped their price objective on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research note on Monday. StockNews.com downgraded shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd.

Ubiquiti Price Performance

Shares of NYSE:UI opened at $343.12 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.59 and a debt-to-equity ratio of 2.80. The stock has a market cap of $20.75 billion, a PE ratio of 53.11 and a beta of 1.13. The stock’s fifty day simple moving average is $240.05 and its two-hundred day simple moving average is $185.22. Ubiquiti has a 1-year low of $104.24 and a 1-year high of $355.31.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. The firm had revenue of $507.50 million during the quarter, compared to analysts’ expectations of $538.23 million. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts forecast that Ubiquiti will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s dividend payout ratio (DPR) is presently 37.15%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new position in shares of Ubiquiti during the 3rd quarter valued at $7,030,000. Millennium Management LLC grew its position in Ubiquiti by 86.2% during the second quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock worth $8,499,000 after buying an additional 27,011 shares in the last quarter. SW Investment Management LLC increased its stake in Ubiquiti by 9.1% in the 2nd quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock worth $43,698,000 after acquiring an additional 25,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Ubiquiti by 24.1% in the 1st quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock worth $11,332,000 after acquiring an additional 18,986 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Ubiquiti by 88.8% in the 2nd quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock valued at $3,372,000 after acquiring an additional 11,076 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

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.