Universal Electronics (UEIC) Downgraded to Strong Sell at BidaskClub

Universal Electronics (NASDAQ:UEIC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Universal Electronics from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Piper Jaffray Companies cut their target price on Universal Electronics to $70.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. Finally, B. Riley set a $77.00 target price on Universal Electronics and gave the company a “buy” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.75.

Shares of Universal Electronics (UEIC) opened at $45.50 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 1.34. Universal Electronics has a 52 week low of $44.25 and a 52 week high of $74.85. The firm has a market capitalization of $677.38, a P/E ratio of 67.91, a price-to-earnings-growth ratio of 0.84 and a beta of 1.53.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). Universal Electronics had a return on equity of 11.27% and a net margin of 1.45%. The company had revenue of $175.51 million for the quarter, compared to the consensus estimate of $182.53 million. During the same period in the previous year, the firm earned $0.93 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. equities analysts predict that Universal Electronics will post 2.28 EPS for the current fiscal year.

In other Universal Electronics news, Director J C. Sparkman bought 2,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average price of $47.50 per share, with a total value of $95,000.00. Following the completion of the purchase, the director now owns 41,871 shares in the company, valued at approximately $1,988,872.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Louis Sylvester Hughes sold 925 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $53.58, for a total value of $49,561.50. Following the transaction, the chief operating officer now directly owns 1,502 shares in the company, valued at approximately $80,477.16. The disclosure for this sale can be found here. Corporate insiders own 5.94% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Suntrust Banks Inc. grew its stake in Universal Electronics by 0.5% in the second quarter. Suntrust Banks Inc. now owns 7,891 shares of the technology company’s stock worth $527,000 after purchasing an additional 43 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Universal Electronics by 1.8% in the second quarter. PNC Financial Services Group Inc. now owns 4,144 shares of the technology company’s stock worth $278,000 after purchasing an additional 75 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Universal Electronics by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 11,082 shares of the technology company’s stock worth $741,000 after purchasing an additional 91 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Universal Electronics by 0.5% in the second quarter. TIAA CREF Investment Management LLC now owns 38,098 shares of the technology company’s stock worth $2,547,000 after purchasing an additional 188 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Universal Electronics by 17.7% in the second quarter. Victory Capital Management Inc. now owns 1,962 shares of the technology company’s stock worth $131,000 after purchasing an additional 295 shares in the last quarter. 96.66% of the stock is currently owned by institutional investors.

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Universal Electronics Company Profile

Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.

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