Universal Electronics Hits New 52-Week High at $55.30 (UEIC)
Universal Electronics (NASDAQ:UEIC) shares hit a new 52-week high during trading on Thursday , Analyst RN reports. The company traded as high as $55.30 and last traded at $55.07, with a volume of 71,024 shares trading hands. The stock had previously closed at $54.47.
UEIC has been the subject of a number of recent research reports. Analysts at Dougherty & Co raised their price target on shares of Universal Electronics from $47.00 to $60.00 in a research note on Friday, August 8th. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $49.58.
The stock’s 50-day moving average is $50.15 and its 200-day moving average is $43.04. The company has a market cap of $868.4 million and a price-to-earnings ratio of 32.36.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.47 earnings per share. Universal Electronics’s revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Universal Electronics will post $2.48 earnings per share for the current fiscal year.
In other Universal Electronics news, EVP Mark S. Kopaskie sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $55.00, for a total transaction of $110,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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