Universal Electronics EVP Sells $550,000 in Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) EVP Paul J. Bennett unloaded 10,000 shares of Universal Electronics stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the sale, the executive vice president now directly owns 57,391 shares in the company, valued at approximately $3,156,505. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on UEIC shares. 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $49.58.
Universal Electronics (NASDAQ:UEIC) traded down 0.36% during mid-day trading on Monday, hitting $55.00. The stock had a trading volume of 55,869 shares. Universal Electronics has a one year low of $30.01 and a one year high of $55.65. The stock’s 50-day moving average is $50.47 and its 200-day moving average is $43.28. The company has a market cap of $863.5 million and a P/E ratio of 32.80.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results 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. Analysts expect that Universal Electronics will post $2.48 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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