Universal Electronics Reaches New 12-Month High at $45.99 (UEIC)
Universal Electronics (NASDAQ:UEIC)’s share price hit a new 52-week high during mid-day trading on Friday , Analyst Ratings News reports. The stock traded as high as $45.99 and last traded at $45.32, with a volume of 34,639 shares trading hands. The stock had previously closed at $44.97.
UEIC has been the subject of a number of recent research reports. Analysts at B. Riley downgraded shares of Universal Electronics from a “buy” rating to a “neutral” rating in a research note on Monday. They now have a $45.75 price target on the stock, down previously from $47.00. Separately, analysts at Sidoti initiated coverage on shares of Universal Electronics in a research note on Thursday, May 29th. They set a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Universal Electronics from a “neutral” rating to an “outperform” rating in a research note on Monday, April 14th. They now have a $44.80 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Universal Electronics presently has an average rating of “Buy” and a consensus target price of $41.31.
The stock has a 50-day moving average of $40.32 and a 200-day moving average of $38.56. The company has a market cap of $720.7 million and a P/E ratio of 29.37.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, May 1st. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.05. The company had revenue of $129.80 million for the quarter, compared to the consensus estimate of $123.21 million. During the same quarter last year, the company posted $0.26 earnings per share. Universal Electronics’s revenue was up 13.2% compared to the same quarter last year. Analysts expect that Universal Electronics will post $2.35 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.
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