UBS AG (UBS) Stock Rating Lowered by Zacks Investment Research
UBS AG (NYSE:UBS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday, July 13th. They presently have a $20.00 price target on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 16.08% from the company’s current price.
According to Zacks, “UBS Group AG’s shares outperformed the Zacks categorized Foreign Banks industry in the last three months. The company remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates achieving CHF 2.1 billion in net cost reductions by the end of 2017. However, its profitability continues to be challenged by negative interest rates. Further, the company is burdened with many legal hassles and is subject to heightened regulatory supervision.”
Several other research analysts also recently weighed in on the stock. Rafferty Capital Markets downgraded shares of UBS AG from a “buy” rating to a “hold” rating in a research report on Saturday, April 22nd. J P Morgan Chase & Co reissued a “neutral” rating on shares of UBS AG in a research report on Monday, May 29th. Finally, BidaskClub upgraded shares of UBS AG from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.14.
Shares of UBS AG (UBS) opened at 17.23 on Thursday. The stock has a market capitalization of $64.04 billion, a price-to-earnings ratio of 15.98 and a beta of 1.24. UBS AG has a 1-year low of $12.86 and a 1-year high of $18.31. The stock’s 50 day moving average is $17.25 and its 200 day moving average is $16.39.
Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in UBS AG by 21.5% in the first quarter. Wellington Management Group LLP now owns 39,721,107 shares of the bank’s stock worth $635,464,000 after buying an additional 7,031,841 shares during the period. Credit Agricole S A boosted its stake in UBS AG by 65.4% in the first quarter. Credit Agricole S A now owns 14,932,920 shares of the bank’s stock worth $238,181,000 after buying an additional 5,904,131 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in UBS AG during the first quarter worth about $67,064,000. Vanguard Group Inc. boosted its stake in UBS AG by 3.9% in the first quarter. Vanguard Group Inc. now owns 81,564,754 shares of the bank’s stock worth $1,300,958,000 after buying an additional 3,064,547 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in UBS AG by 7.0% in the second quarter. Fisher Asset Management LLC now owns 40,167,025 shares of the bank’s stock worth $682,036,000 after buying an additional 2,639,249 shares during the period. Hedge funds and other institutional investors own 26.32% of the company’s stock.
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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