Ubiquiti Networks Inc (UBNT) Cut to Hold at Zacks Investment Research
Ubiquiti Networks Inc (NASDAQ:UBNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Ubiquiti’s shares have charted an impressive trajectory in the past one year, outperforming the Zacks-categorized Wireless Equipment industry's gain. The company’s excellent global business model, which is highly flexible and adaptable to any kind of change in markets, has helped it steer past challenges and maximize growth. Over the past few quarters both of Ubiquiti’s business segments are experiencing solid prospects, which, in turn, have stoked its top line. However, macroeconomic problems like currency risks, rising labor costs in China and natural disasters pose concerns for the company. Also, risks related to intellectual property rights are quite high for the company, particularly in some key markets including South America and China, which may pose as headwinds in the future. Moreover, stringent government legislations add to Ubiquiti’s woes.”
Other equities analysts also recently issued reports about the stock. Vetr downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 target price on the stock. in a report on Monday, June 5th. BidaskClub raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Deutsche Bank AG lifted their price objective on shares of Ubiquiti Networks from $38.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 8th. Finally, Credit Suisse Group reaffirmed a “sell” rating and set a $44.00 price objective on shares of Ubiquiti Networks in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.75.
Ubiquiti Networks (NASDAQ:UBNT) traded up 0.27% during trading on Monday, reaching $52.59. The company had a trading volume of 184,233 shares. The stock has a 50 day moving average price of $49.29 and a 200-day moving average price of $52.62. The company has a market capitalization of $4.22 billion, a PE ratio of 17.29 and a beta of 0.47. Ubiquiti Networks has a 52-week low of $38.21 and a 52-week high of $64.62.
Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, May 4th. The Wireless communications provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.09. The business had revenue of $218.36 million for the quarter, compared to the consensus estimate of $213.63 million. Ubiquiti Networks had a net margin of 29.51% and a return on equity of 46.25%. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts anticipate that Ubiquiti Networks will post $3.03 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in Ubiquiti Networks during the first quarter valued at $113,000. Pacer Advisors Inc. boosted its stake in Ubiquiti Networks by 22.2% in the first quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock valued at $136,000 after buying an additional 490 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Ubiquiti Networks by 40.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,444 shares of the Wireless communications provider’s stock valued at $199,000 after buying an additional 984 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Ubiquiti Networks by 26.0% in the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock valued at $185,000 after buying an additional 760 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Ubiquiti Networks during the first quarter valued at $218,000. 30.70% of the stock is owned by institutional investors and hedge funds.
Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
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