Ubiquiti Inc. (NYSE:UI – Get Free Report)’s share price was down 5.5% on Tuesday after Barclays lowered their price target on the stock from $108.00 to $104.00. Barclays currently has an underweight rating on the stock. Ubiquiti traded as low as $192.39 and last traded at $194.60. Approximately 14,300 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 79,051 shares. The stock had previously closed at $205.86.
Several other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Tuesday. BWS Financial increased their price objective on Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in UI. Quadrant Capital Group LLC grew its holdings in Ubiquiti by 435.0% during the fourth quarter. Quadrant Capital Group LLC now owns 214 shares of the company’s stock worth $30,000 after acquiring an additional 174 shares during the period. Parallel Advisors LLC increased its holdings in shares of Ubiquiti by 116.5% in the 4th quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock valued at $31,000 after purchasing an additional 120 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Ubiquiti in the 4th quarter valued at about $42,000. nVerses Capital LLC acquired a new stake in shares of Ubiquiti in the second quarter valued at about $44,000. Finally, Fairman Group LLC purchased a new stake in Ubiquiti during the fourth quarter worth about $52,000. 4.00% of the stock is currently owned by institutional investors and hedge funds.
Ubiquiti Stock Down 10.2 %
The company has a debt-to-equity ratio of 32.43, a current ratio of 3.95 and a quick ratio of 1.84. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 31.92 and a beta of 1.18. The firm’s 50-day simple moving average is $164.79 and its two-hundred day simple moving average is $137.75.
Ubiquiti (NYSE:UI – Get Free Report) last announced its quarterly earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). The firm had revenue of $507.50 million for the quarter, compared to analysts’ expectations of $538.23 million. Ubiquiti had a negative return on equity of 829.74% and a net margin of 18.30%. Ubiquiti’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts predict that Ubiquiti Inc. will post 5.71 EPS for the current fiscal year.
Ubiquiti Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Tuesday, September 3rd. Ubiquiti’s dividend payout ratio is currently 41.45%.
About Ubiquiti
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.