BWS Financial Reaffirms Buy Rating for Ubiquiti (NYSE:UI)

Ubiquiti (NYSE:UI)‘s stock had its “buy” rating reiterated by stock analysts at BWS Financial in a note issued to investors on Tuesday,Benzinga reports. They currently have a $720.00 price objective on the stock. BWS Financial’s target price would suggest a potential upside of 23.01% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Barclays raised their target price on Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a report on Tuesday. UBS Group set a $600.00 price objective on Ubiquiti in a research note on Monday, August 25th. Weiss Ratings upgraded shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, November 7th. Finally, Zacks Research cut Ubiquiti from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $591.67.

Ubiquiti Stock Up 0.7%

UI stock opened at $585.31 on Tuesday. The business has a fifty day simple moving average of $674.84 and a 200-day simple moving average of $509.04. Ubiquiti has a 52 week low of $255.00 and a 52 week high of $803.59. The company has a market cap of $35.41 billion, a price-to-earnings ratio of 49.73 and a beta of 1.50.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, November 7th. The company reported $3.46 EPS for the quarter, topping the consensus estimate of $2.48 by $0.98. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The company had revenue of $733.77 million during the quarter, compared to analyst estimates of $702.38 million. As a group, analysts expect that Ubiquiti will post 7.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UI. SW Investment Management LLC increased its position in shares of Ubiquiti by 7.4% during the 1st quarter. SW Investment Management LLC now owns 290,000 shares of the company’s stock valued at $89,941,000 after purchasing an additional 20,000 shares during the period. AQR Capital Management LLC lifted its holdings in Ubiquiti by 133.9% in the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company’s stock valued at $70,521,000 after acquiring an additional 132,816 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Ubiquiti by 24.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 111,216 shares of the company’s stock valued at $45,782,000 after purchasing an additional 21,547 shares in the last quarter. TD Asset Management Inc acquired a new position in shares of Ubiquiti in the 1st quarter worth approximately $34,013,000. Finally, Pacer Advisors Inc. grew its stake in shares of Ubiquiti by 76.2% in the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock worth $33,785,000 after purchasing an additional 47,109 shares during the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

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.