Dougherty & Co Increases Universal Electronics Price Target to $47.00 (UEIC)
Dougherty & Co lifted their target price on shares of Universal Electronics (NASDAQ:UEIC) from $36.00 to $47.00 in a research note issued on Thursday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Dougherty & Co’s price objective would suggest a potential upside of 34.02% from the company’s current price.
In other Universal Electronics news, CEO Paul Arling sold 5,602 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $33.06, for a total value of $185,202.12. Following the completion of the transaction, the chief executive officer now directly owns 131,450 shares of the company’s stock, valued at approximately $4,345,737. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Universal Electronics (NASDAQ:UEIC) traded up 2.79% on Thursday, hitting $36.05. 53,021 shares of the company’s stock traded hands. Universal Electronics has a 52-week low of $14.36 and a 52-week high of $35.74. The stock’s 50-day moving average is $31.80 and its 200-day moving average is $27.49. The company has a market cap of $550.9 million and a P/E ratio of 28.77.
Universal Electronics (NASDAQ:UEIC) last released its earnings data on Thursday, August 8th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.06. The company had revenue of $136.10 million for the quarter, compared to the consensus estimate of $127.04 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts predict that Universal Electronics will post $1.75 earnings per share for the current fiscal year.
A number of other firms have also recently commented on UEIC. Analysts at Pacific Crest downgraded shares of Universal Electronics (NASDAQ:UEIC) from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday, August 9th. They now have a $26.00 price target on the stock. Analysts at Zacks upgraded shares of Universal Electronics (NASDAQ:UEIC) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, July 5th. They now have a $32.00 price target on the stock. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.00.
Universal Electronics Inc develops and manufactures a line of pre-programmed universal wireless remote control products, audio-video accessories, and software that are marketed for home entertainment systems.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.