Ubiquiti Networks Inc (UBNT) Receives Average Recommendation of “Buy” from Brokerages

Ubiquiti Networks Inc (NASDAQ:UBNT) has been assigned an average rating of “Buy” from the nine research firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $69.44.

A number of research firms have issued reports on UBNT. TheStreet raised shares of Ubiquiti Networks from a “c+” rating to a “b+” rating in a report on Wednesday, May 23rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $74.00 price target on shares of Ubiquiti Networks in a report on Friday, May 11th. ValuEngine raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, May 11th. Credit Suisse Group began coverage on shares of Ubiquiti Networks in a report on Wednesday, May 9th. They issued a “neutral” rating and a $74.00 price target for the company. Finally, BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, April 20th.

NASDAQ:UBNT traded up $0.51 during midday trading on Thursday, reaching $87.57. 503,684 shares of the stock traded hands, compared to its average volume of 485,438. Ubiquiti Networks has a 12-month low of $47.78 and a 12-month high of $88.25. The company has a quick ratio of 6.08, a current ratio of 6.69 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 1.93 and a beta of 0.75.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, May 10th. The Wireless communications provider reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.05. Ubiquiti Networks had a net margin of 19.15% and a return on equity of 56.13%. The company had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $247.92 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. Ubiquiti Networks’s revenue for the quarter was up 14.7% compared to the same quarter last year. analysts expect that Ubiquiti Networks will post 2.42 EPS for the current year.

Ubiquiti Networks declared that its board has initiated a share buyback program on Tuesday, March 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Ubiquiti Networks by 8.3% in the first quarter. BlackRock Inc. now owns 1,601,726 shares of the Wireless communications provider’s stock worth $110,198,000 after buying an additional 123,254 shares during the last quarter. Hunt Lane Capital LP increased its stake in shares of Ubiquiti Networks by 10.9% in the fourth quarter. Hunt Lane Capital LP now owns 698,544 shares of the Wireless communications provider’s stock worth $49,611,000 after acquiring an additional 68,544 shares during the period. Anchor Capital Advisors LLC increased its stake in shares of Ubiquiti Networks by 1.0% in the first quarter. Anchor Capital Advisors LLC now owns 357,459 shares of the Wireless communications provider’s stock worth $24,593,000 after acquiring an additional 3,679 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Ubiquiti Networks by 21.4% in the fourth quarter. Bank of New York Mellon Corp now owns 188,899 shares of the Wireless communications provider’s stock worth $13,416,000 after acquiring an additional 33,272 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Ubiquiti Networks by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 154,346 shares of the Wireless communications provider’s stock worth $10,620,000 after acquiring an additional 6,713 shares during the period. 30.38% of the stock is owned by institutional investors and hedge funds.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.

Receive News & Ratings for Ubiquiti Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply