Universal Electronics Lowered to Neutral at Zacks (UEIC)
Universal Electronics (NASDAQ:UEIC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Analyst Ratings News reports. They currently have a $38.60 price objective on the stock. Zacks‘ price objective indicates a potential upside of 13.80% from the company’s current price.
In other Universal Electronics news, CEO Paul Arling sold 13,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $34.99, for a total transaction of $454,870.00. Following the completion of the sale, the chief executive officer now directly owns 131,450 shares of the company’s stock, valued at approximately $4,599,436. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on UEIC. Analysts at Dougherty & Co raised their price target on shares of Universal Electronics from $36.00 to $47.00 in a research note to investors on Thursday, September 26th. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest downgraded shares of Universal Electronics 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. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $37.20.
Shares of Universal Electronics (NASDAQ:UEIC) traded up 0.59% on Wednesday, hitting $34.12. The stock had a trading volume of 21,414 shares. Universal Electronics has a 52 week low of $14.36 and a 52 week high of $36.71. The stock’s 50-day moving average is $32.83 and its 200-day moving average is $28.33. The company has a market cap of $521.4 million and a P/E ratio of 27.83.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, August 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Universal Electronics will post $1.75 EPS for the current fiscal year.
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.
To view Zacks’ full report, visit www.zacks.com
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.