Ubiquiti Networks, Inc. (UBNT) Downgraded to Hold at ValuEngine
ValuEngine cut shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) from a buy rating to a hold rating in a research report report published on Thursday morning.
Other equities analysts have also issued reports about the company. BidaskClub upgraded Ubiquiti Networks from a hold rating to a buy rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Ubiquiti Networks from a hold rating to a buy rating and set a $64.00 target price for the company in a research note on Thursday, October 5th. Vetr lowered Ubiquiti Networks from a strong-buy rating to a buy rating and set a $62.28 target price for the company. in a research note on Wednesday, October 4th. Deutsche Bank AG upped their target price on Ubiquiti Networks from $40.00 to $44.00 and gave the company a hold rating in a research note on Monday, August 7th. Finally, JMP Securities reiterated a market perform rating on shares of Ubiquiti Networks in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Ubiquiti Networks has an average rating of Hold and a consensus target price of $56.86.
Ubiquiti Networks (NASDAQ:UBNT) traded up $0.89 during trading on Thursday, reaching $65.59. The company had a trading volume of 335,436 shares, compared to its average volume of 627,024. The firm has a market capitalization of $5,040.00, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.21 and a beta of 0.50. Ubiquiti Networks has a 52-week low of $45.71 and a 52-week high of $67.80.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.06. The firm had revenue of $245.90 million during the quarter, compared to analyst estimates of $240.39 million. Ubiquiti Networks had a return on equity of 45.45% and a net margin of 28.76%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share. research analysts forecast that Ubiquiti Networks will post 2.78 earnings per share for the current fiscal year.
Ubiquiti Networks announced that its board has initiated a share buyback plan on Tuesday, September 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the Wireless communications provider to reacquire up to 18% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
In other Ubiquiti Networks news, insider Robert J. Pera sold 1,000,000 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $61.25, for a total transaction of $61,250,000.00. Following the completion of the sale, the insider now owns 56,278,181 shares of the company’s stock, valued at $3,447,038,586.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 70.34% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in Ubiquiti Networks by 4.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after acquiring an additional 80 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Ubiquiti Networks in the second quarter worth about $144,000. Pacer Advisors Inc. boosted its position in shares of Ubiquiti Networks by 11.8% in the second quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock worth $157,000 after buying an additional 319 shares during the period. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Ubiquiti Networks in the third quarter worth about $178,000. Finally, Hikari Power Ltd purchased a new stake in shares of Ubiquiti Networks in the second quarter worth about $205,000. 32.11% of the stock is owned by hedge funds and other institutional investors.
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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