Zacks Investment Research Downgrades UBS AG (UBS) to Sell
UBS AG (NYSE:UBS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Shares of UBS Group AG have underperformed the industry on NYSE in the last six months. The company’s profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework. Further, stretched valuation limits upside potential for the stock. However, UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates to achieve CHF 2.1 billion in net cost reductions by the end of 2017.”
Several other brokerages have also recently weighed in on UBS. BidaskClub cut shares of UBS AG from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Morgan Stanley restated a “buy” rating on shares of UBS AG in a research note on Tuesday, July 18th. Instinet cut shares of UBS AG from a “buy” rating to a “neutral” rating in a research note on Sunday, October 1st. BNP Paribas started coverage on shares of UBS AG in a research note on Thursday, August 31st. They set an “outperform” rating on the stock. Finally, ValuEngine cut shares of UBS AG from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $19.00.
UBS AG (NYSE:UBS) traded up 0.58% during midday trading on Tuesday, hitting $17.43. The stock had a trading volume of 2,629,264 shares. The company has a market cap of $64.78 billion, a P/E ratio of 16.09 and a beta of 1.25. The stock’s 50-day moving average is $16.93 and its 200-day moving average is $16.77. UBS AG has a one year low of $13.38 and a one year high of $18.31.
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A number of hedge funds and other institutional investors have recently bought and sold shares of UBS. Norges Bank purchased a new position in UBS AG during the fourth quarter worth $2,005,588,000. OppenheimerFunds Inc. purchased a new position in UBS AG during the fourth quarter worth $579,018,000. Franklin Resources Inc. boosted its stake in UBS AG by 607.7% during the second quarter. Franklin Resources Inc. now owns 33,257,077 shares of the bank’s stock worth $428,318,000 after buying an additional 28,557,465 shares during the period. Emerald Acquisition Ltd. purchased a new position in UBS AG during the second quarter worth $163,388,000. Finally, Russell Investments Group Ltd. purchased a new position in UBS AG during the fourth quarter worth $139,931,000. 31.47% of the stock is owned by institutional investors.
About UBS AG
UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.
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