Ubiquiti (NYSE:UI) Given New $236.00 Price Target at Barclays

Ubiquiti (NYSE:UI) had its price target hoisted by Barclays from $104.00 to $236.00 in a research note published on Monday,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. BWS Financial boosted their target price on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, August 26th.

Ubiquiti Price Performance

Shares of NYSE:UI traded up $7.03 during trading on Monday, reaching $347.38. 9,990 shares of the company’s stock traded hands, compared to its average volume of 76,605. The company has a quick ratio of 1.59, a current ratio of 3.22 and a debt-to-equity ratio of 7.05. Ubiquiti has a fifty-two week low of $104.24 and a fifty-two week high of $347.38. The company has a 50-day simple moving average of $234.00 and a 200-day simple moving average of $182.44. The firm has a market cap of $21.01 billion, a PE ratio of 52.69 and a beta of 1.13.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). The business had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. Ubiquiti’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Ubiquiti will post 7.09 earnings per share for the current year.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s payout ratio is 37.15%.

Institutional Investors Weigh In On Ubiquiti

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC acquired a new stake in shares of Ubiquiti in the first quarter valued at approximately $436,000. Edmond DE Rothschild Holding S.A. lifted its holdings in Ubiquiti by 20.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,360 shares of the company’s stock valued at $273,000 after acquiring an additional 400 shares during the last quarter. Vanguard Group Inc. grew its position in Ubiquiti by 24.1% in the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock worth $11,332,000 after acquiring an additional 18,986 shares during the period. Catalytic Wealth RIA LLC acquired a new stake in Ubiquiti during the first quarter worth $356,000. Finally, Covestor Ltd raised its position in Ubiquiti by 29.0% in the first quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.