Zacks Investment Research Upgrades UBS AG (UBS) to Hold
UBS AG (NYSE:UBS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “UBS Group AG’s third-quarter 2016 net profit attributable to shareholders declined substantially year over year. However, pre-tax operating profit improved year over year. The company recorded reduced profitability in its Investment Bank and Wealth Management units, while witnessing improved profitability in other segments. Net trading income increased while net interest income and net fee and commission declined. We remain optimistic as the company remains focused on building capital levels and executing restructuring initiatives. Management remains confident to achieve CHF 2.1 billion in net cost reductions by the end of 2017. However, profitability continues to be challenged by a stressed operating environment with negative interest rates and global growth concerns. Also, the comapny is burdened with numerous legal hassles.”
A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods raised shares of UBS AG from a “market perform” rating to an “outperform” rating in a report on Thursday, November 10th. Royal Bank Of Canada raised shares of UBS AG from an “underperform” rating to a “sector perform” rating in a report on Wednesday, October 5th. Barclays PLC reissued a “buy” rating on shares of UBS AG in a research note on Sunday, September 11th. BNP Paribas reissued a “sell” rating on shares of UBS AG in a research note on Monday, September 12th. Finally, Credit Suisse Group AG started coverage on shares of UBS AG in a research note on Monday, September 19th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.73.
UBS AG (NYSE:UBS) opened at 15.77 on Thursday. The company’s 50-day moving average is $14.46 and its 200-day moving average is $14.12. UBS AG has a 52 week low of $11.93 and a 52 week high of $19.94. The company has a market cap of $58.49 billion, a P/E ratio of 17.44 and a beta of 1.27.
Several large investors have recently made changes to their positions in UBS. Euclid Advisors LLC boosted its stake in shares of UBS AG by 12.9% in the first quarter. Euclid Advisors LLC now owns 577,000 shares of the company’s stock worth $9,244,000 after buying an additional 66,000 shares during the period. First Republic Investment Management Inc. boosted its stake in shares of UBS AG by 50.2% in the first quarter. First Republic Investment Management Inc. now owns 40,763 shares of the company’s stock worth $653,000 after buying an additional 13,617 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of UBS AG by 37,394.8% in the second quarter. BNP Paribas Arbitrage SA now owns 78,739 shares of the company’s stock worth $1,020,000 after buying an additional 78,529 shares during the period. Raymond James Trust N.A. boosted its stake in shares of UBS AG by 5.4% in the second quarter. Raymond James Trust N.A. now owns 27,726 shares of the company’s stock worth $359,000 after buying an additional 1,417 shares during the period. Finally, Founders Financial Securities LLC acquired a new stake in shares of UBS AG during the second quarter worth about $615,000. 27.02% of the stock is owned by institutional investors.
UBS AG Company Profile
UBS Group AG (UBS) is a holding company. The Company provides a range of financial services, including advisory services, underwriting, financing, market-making, asset management and brokerage on a global level, and retail banking in Switzerland. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank.
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