Universal Electronics Reaches New 52-Week High After Analyst Upgrade (UEIC)
Universal Electronics (NASDAQ:UEIC) hit a new 52-week high during mid-day trading on Monday after Dougherty & Co raised their price target on the stock from $47.00 to $60.00, Analyst Ratings Net reports. Dougherty & Co currently has a buy rating on the stock. Universal Electronics traded as high as $55.09 and last traded at $52.91, with a volume of 86,906 shares. The stock had previously closed at $52.77.
A number of other analysts have also recently weighed in on UEIC. Analysts at Avondale Partners upgraded shares of Universal Electronics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 15th. Separately, analysts at B. Riley downgraded shares of Universal Electronics from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $45.75 price target on the stock, down previously from $47.00. Finally, 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $49.58.
The stock’s 50-day moving average is $48.90 and its 200-day moving average is $42.02. The company has a market cap of $828.2 million and a P/E ratio of 31.35.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.05. The company had revenue of $146.32 million for the quarter, compared to the consensus estimate of $145.26 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts predict that Universal Electronics will post $2.43 earnings per share 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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