Ubiquiti Networks Inc (UBNT) Receives Average Rating of “Hold” from Brokerages

Ubiquiti Networks Inc (NASDAQ:UBNT) has received a consensus rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $57.27.

Several analysts have weighed in on UBNT shares. Zacks Investment Research cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Monday. Vetr cut Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $62.28 price objective on the stock. in a research report on Wednesday, October 4th. BMO Capital Markets cut their price objective on Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating on the stock in a research report on Friday, November 10th. ValuEngine raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, BidaskClub cut Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd.

Institutional investors have recently bought and sold shares of the business. Disciplined Growth Investors Inc. MN boosted its position in shares of Ubiquiti Networks by 34.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,616,027 shares of the Wireless communications provider’s stock worth $83,985,000 after purchasing an additional 413,560 shares in the last quarter. Jackson Square Partners LLC boosted its position in shares of Ubiquiti Networks by 21.1% in the 3rd quarter. Jackson Square Partners LLC now owns 1,316,083 shares of the Wireless communications provider’s stock worth $73,726,000 after purchasing an additional 228,986 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Ubiquiti Networks by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 784,300 shares of the Wireless communications provider’s stock worth $40,760,000 after purchasing an additional 19,300 shares in the last quarter. Lagoda Investment Management L.P. boosted its position in shares of Ubiquiti Networks by 8.0% in the 2nd quarter. Lagoda Investment Management L.P. now owns 455,894 shares of the Wireless communications provider’s stock worth $23,693,000 after purchasing an additional 33,765 shares in the last quarter. Finally, Anchor Capital Advisors LLC bought a new stake in shares of Ubiquiti Networks in the 3rd quarter worth approximately $20,244,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Networks (UBNT) traded down $0.09 during midday trading on Monday, hitting $73.66. The company had a trading volume of 493,700 shares, compared to its average volume of 274,211. The company has a market capitalization of $5,730.00, a PE ratio of 23.38, a PEG ratio of 1.15 and a beta of 0.51. Ubiquiti Networks has a 12 month low of $45.71 and a 12 month high of $76.93.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.06. The company had revenue of $245.90 million for the quarter, compared to analysts’ expectations of $240.39 million. Ubiquiti Networks had a return on equity of 45.45% and a net margin of 28.76%. Ubiquiti Networks’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. research analysts predict that Ubiquiti Networks will post 3.35 EPS for the current fiscal year.

Ubiquiti Networks announced that its board has authorized a stock buyback plan on Monday, September 18th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the Wireless communications provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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About Ubiquiti Networks

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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