Ubiquiti (NYSE:UI) Reaches New 52-Week High – Here’s Why

Ubiquiti Inc. (NYSE:UI)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $357.92 and last traded at $356.99, with a volume of 10660 shares changing hands. The stock had previously closed at $345.72.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UI shares. StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. BWS Financial raised their price target on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Barclays upped their price objective on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th.

Ubiquiti Stock Up 3.7 %

The firm’s 50-day moving average price is $260.68 and its two-hundred day moving average price is $196.59. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.32 and a current ratio of 2.54. The firm has a market cap of $21.68 billion, a PE ratio of 55.49 and a beta of 1.13.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). The company had revenue of $507.50 million during the quarter, compared to analysts’ expectations of $538.23 million. Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. Ubiquiti’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Monday, November 18th. Ubiquiti’s payout ratio is currently 37.15%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp purchased a new position in shares of Ubiquiti in the 3rd quarter valued at approximately $252,000. Barclays PLC lifted its holdings in shares of Ubiquiti by 4,880.2% during the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after purchasing an additional 13,079 shares during the period. MML Investors Services LLC purchased a new position in Ubiquiti in the 3rd quarter valued at $327,000. XTX Topco Ltd acquired a new position in Ubiquiti in the 3rd quarter valued at $466,000. Finally, Zacks Investment Management purchased a new position in Ubiquiti during the 3rd quarter worth $8,892,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

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.