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

Ubiquiti Inc. (NYSE:UI) shares gapped down prior to trading 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 changing hands.

UI has been the topic of a number of other research reports. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. BWS Financial boosted their price target on shares of Ubiquiti from $385.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th.

Institutional Investors Weigh In On Ubiquiti

Several large investors have recently modified their holdings of UI. Farther Finance Advisors LLC increased its position in shares of Ubiquiti by 47.0% in the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock worth $40,000 after acquiring an additional 39 shares in the last quarter. Huntington National Bank boosted its stake in Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after purchasing an additional 91 shares during the period. Venturi Wealth Management LLC boosted its stake in Ubiquiti by 71.1% in the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock worth $43,000 after purchasing an additional 54 shares during the period. Blue Trust Inc. grew its position in Ubiquiti by 78.8% during the 4th quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Finally, Financial Perspectives Inc raised its stake in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock valued at $56,000 after purchasing an additional 102 shares during the period. 4.00% of the stock is owned by institutional investors.

Ubiquiti Price Performance

The company has a market cap of $21.06 billion, a PE ratio of 53.91 and a beta of 1.14. The stock has a fifty day moving average price of $369.49 and a 200-day moving average price of $283.43. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32.

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

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.69%. Ubiquiti’s payout ratio is 32.61%.

Ubiquiti Company Profile

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.