Ubiquiti Networks, Inc. (UBNT) Cut to “Hold” at ValuEngine

ValuEngine lowered shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) from a buy rating to a hold rating in a research note released on Thursday.

A number of other equities analysts have also weighed in on UBNT. Vetr lowered Ubiquiti Networks from a buy rating to a hold rating and set a $56.18 price target for the company. in a research report on Monday, July 31st. Deutsche Bank AG increased their price target on Ubiquiti Networks from $40.00 to $44.00 and gave the company a hold rating in a research report on Monday, August 7th. Zacks Investment Research lowered Ubiquiti Networks from a buy rating to a hold rating in a research report on Thursday. BMO Capital Markets decreased their price target on Ubiquiti Networks from $66.00 to $60.00 and set a positive rating for the company in a research report on Friday, November 10th. Finally, Credit Suisse Group reiterated a sell rating and issued a $54.00 price target on shares of Ubiquiti Networks in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ubiquiti Networks currently has an average rating of Hold and a consensus price target of $56.86.

Ubiquiti Networks (UBNT) opened at $65.59 on Thursday. Ubiquiti Networks has a 1 year low of $45.71 and a 1 year high of $67.80. The firm has a market capitalization of $5,105.66, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.03 and a beta of 0.50.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.06. Ubiquiti Networks had a return on equity of 45.45% and a net margin of 28.76%. The business had revenue of $245.90 million during the quarter, compared to analyst estimates of $240.39 million. During the same quarter last year, the company posted $0.79 EPS. Ubiquiti Networks’s revenue for the quarter was up 20.1% on a year-over-year basis. equities research analysts expect that Ubiquiti Networks will post 3.35 earnings per share for the current year.

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Ubiquiti Networks announced that its Board of Directors has initiated a stock repurchase program on Tuesday, September 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the Wireless communications provider to purchase up to 18% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

In related news, insider Robert J. Pera sold 1,000,000 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $61.25, for a total value of $61,250,000.00. Following the completion of the sale, the insider now directly owns 56,278,181 shares of the company’s stock, valued at approximately $3,447,038,586.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 72.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in UBNT. PNC Financial Services Group Inc. lifted its stake in Ubiquiti Networks by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after acquiring an additional 80 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Ubiquiti Networks in the 2nd quarter worth about $144,000. Pacer Advisors Inc. lifted its stake in Ubiquiti Networks by 11.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock worth $157,000 after acquiring an additional 319 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Ubiquiti Networks during the 3rd quarter worth about $178,000. Finally, Hikari Power Ltd purchased a new stake in shares of Ubiquiti Networks during the 2nd quarter worth about $205,000. 32.47% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Networks Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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