Ubiquiti Networks (UBNT) Stock Rating Lowered by Vetr

Ubiquiti Networks (NASDAQ:UBNT) was downgraded by stock analysts at Vetr from a “hold” rating to a “sell” rating in a report released on Thursday. They presently have a $71.07 price target on the Wireless communications provider’s stock. Vetr‘s target price indicates a potential downside of 4.24% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets dropped their target price on Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating on the stock in a research report on Friday, November 10th. ValuEngine upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Thursday, October 5th. BidaskClub cut Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, JMP Securities reiterated a “market perform” rating on shares of Ubiquiti Networks in a report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Ubiquiti Networks presently has an average rating of “Hold” and an average target price of $58.61.

Shares of Ubiquiti Networks (UBNT) opened at $74.22 on Thursday. Ubiquiti Networks has a 12-month low of $45.71 and a 12-month high of $75.00. The company has a market capitalization of $5,780.00, a PE ratio of 23.56, a PEG ratio of 1.13 and a beta of 0.51.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 EPS 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 firm had revenue of $245.90 million for the quarter, compared to analysts’ expectations of $240.39 million. During the same period last year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. research analysts forecast that Ubiquiti Networks will post 3.35 EPS for the current year.

Ubiquiti Networks announced that its board has initiated a stock buyback program on Monday, September 18th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the Wireless communications provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings 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 buying an additional 80 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Ubiquiti Networks in the 2nd quarter worth about $144,000. Pacer Advisors Inc. boosted its holdings 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 buying an additional 319 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in Ubiquiti Networks in the 3rd quarter worth about $178,000. Finally, Brown Advisory Inc. acquired a new stake in Ubiquiti Networks in the 3rd quarter worth about $211,000. Institutional investors own 33.80% of the company’s stock.

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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.

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