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Universal Electronics (NASDAQ:UEIC) shares hit a new 52-week high during trading on Thursday , AR Network reports. The stock traded as high as $56.16 and last traded at $55.65, with a volume of 175,460 shares traded. The stock had previously closed at $54.21.

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. 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $49.58.

The stock’s 50-day moving average is $51.54 and its 200-day moving average is $44.37. The company has a market cap of $866.6 million and a price-to-earnings ratio of 32.21.

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.

In other Universal Electronics news, SVP Richard A. Firehammer, Jr. sold 1,500 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $55.00, for a total transaction of $82,500.00. The sale was disclosed in a filing with the SEC, which is available at 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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