Shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) have earned an average rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $57.39.
A number of equities analysts recently commented on UBNT shares. Vetr downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 target price for the company. in a research note on Monday, June 5th. BidaskClub upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. ValuEngine downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Credit Suisse Group reiterated a “sell” rating and set a $54.00 target price on shares of Ubiquiti Networks in a research note on Friday, August 4th.
In other Ubiquiti Networks news, insider Robert J. Pera sold 1,000,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total value of $61,250,000.00. Following the completion of the transaction, the insider now owns 56,278,181 shares in the company, valued at $3,447,038,586.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 70.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBNT. BlackRock Inc. boosted its stake in Ubiquiti Networks by 11,607.1% in the first quarter. BlackRock Inc. now owns 1,965,976 shares of the Wireless communications provider’s stock valued at $98,810,000 after acquiring an additional 1,949,183 shares in the last quarter. Jackson Square Partners LLC acquired a new position in Ubiquiti Networks in the second quarter valued at $56,496,000. EdgePoint Investment Group Inc. boosted its stake in Ubiquiti Networks by 10.0% in the second quarter. EdgePoint Investment Group Inc. now owns 6,325,182 shares of the Wireless communications provider’s stock valued at $328,720,000 after acquiring an additional 575,640 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Ubiquiti Networks by 34.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,616,027 shares of the Wireless communications provider’s stock valued at $83,985,000 after acquiring an additional 413,560 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Ubiquiti Networks in the second quarter valued at $13,724,000. Institutional investors own 30.88% of the company’s stock.
Ubiquiti Networks (UBNT) traded down 1.30% during mid-day trading on Tuesday, hitting $58.35. The stock had a trading volume of 725,257 shares. The stock has a market cap of $4.69 billion, a P/E ratio of 18.88 and a beta of 0.51. Ubiquiti Networks has a 52-week low of $45.71 and a 52-week high of $67.80. The firm has a 50-day moving average of $61.00 and a 200-day moving average of $52.78.
Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $228.60 million during the quarter, compared to the consensus estimate of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, analysts forecast that Ubiquiti Networks will post $3.61 EPS for the current fiscal year.
Ubiquiti Networks declared that its board has initiated a stock repurchase plan on Tuesday, September 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to reacquire up to 18% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors 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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