Ubiquiti (NYSE:UI) Shares Gap Down on Analyst Downgrade

Ubiquiti Inc. (NYSE:UI) gapped down before the market opened on Monday after Barclays lowered their price target on the stock from $236.00 to $222.00. The stock had previously closed at $390.01, but opened at $381.96. Barclays currently has an underweight rating on the stock. Ubiquiti shares last traded at $329.89, with a volume of 41,626 shares.

Several other research firms have also recently issued reports on UI. StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. BWS Financial increased their target price on Ubiquiti from $385.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th.

Hedge Funds Weigh In On Ubiquiti

Large investors have recently added to or reduced their stakes in the company. Huntington National Bank lifted its holdings in Ubiquiti by 267.6% during the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after buying an additional 91 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Ubiquiti by 71.1% in the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock valued at $43,000 after buying an additional 54 shares during the period. Raleigh Capital Management Inc. bought a new position in Ubiquiti during the 3rd quarter worth about $47,000. Finally, Blue Trust Inc. lifted its stake in Ubiquiti by 78.8% in the 4th quarter. Blue Trust Inc. now owns 143 shares of the company’s stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Stock Performance

The company has a market capitalization of $22.21 billion, a price-to-earnings ratio of 56.85 and a beta of 1.14. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. The stock’s 50 day moving average price is $369.19 and its 200 day moving average price is $282.06.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. Analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th will be issued a $0.60 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.65%. Ubiquiti’s payout ratio is presently 37.15%.

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.