TheStreet Downgrades Ubiquiti Networks (UBNT) to C+

Ubiquiti Networks (NASDAQ:UBNT) was downgraded by stock analysts at TheStreet from an “a” rating to a “c+” rating in a research report issued to clients and investors on Friday.

UBNT has been the subject of several other research reports. Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Friday, January 12th. Vetr raised shares of Ubiquiti Networks from a “sell” rating to a “hold” rating and set a $74.74 price target for the company in a research note on Monday, January 22nd. ValuEngine downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Deutsche Bank lifted their price target on shares of Ubiquiti Networks from $47.00 to $55.00 and gave the company a “hold” rating in a research note on Friday. Finally, BidaskClub downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $65.75.

Shares of Ubiquiti Networks (UBNT) opened at $70.04 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 10.94 and a quick ratio of 10.00. The stock has a market cap of $5,480.80, a PE ratio of 39.57, a price-to-earnings-growth ratio of 1.20 and a beta of 0.58. Ubiquiti Networks has a 12 month low of $45.71 and a 12 month high of $82.30.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.06. Ubiquiti Networks had a net margin of 15.73% and a return on equity of 47.42%. The firm had revenue of $250.80 million during the quarter, compared to the consensus estimate of $239.89 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. equities analysts forecast that Ubiquiti Networks will post 3.08 EPS for the current year.

Ubiquiti Networks declared that its Board of Directors has approved a share repurchase program on Thursday, November 9th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

A number of large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Ubiquiti Networks by 4.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after buying an additional 80 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Ubiquiti Networks by 6.1% in the second quarter. UBS Asset Management Americas Inc. now owns 15,894 shares of the Wireless communications provider’s stock worth $826,000 after buying an additional 916 shares in the last quarter. Voya Investment Management LLC raised its stake in Ubiquiti Networks by 8.6% in the second quarter. Voya Investment Management LLC now owns 12,920 shares of the Wireless communications provider’s stock worth $671,000 after buying an additional 1,027 shares in the last quarter. American International Group Inc. raised its stake in Ubiquiti Networks by 8.1% in the third quarter. American International Group Inc. now owns 15,508 shares of the Wireless communications provider’s stock worth $869,000 after buying an additional 1,159 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Ubiquiti Networks by 5.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,067 shares of the Wireless communications provider’s stock worth $1,516,000 after buying an additional 1,380 shares in the last quarter. 33.33% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.com-unik.info/2018/02/13/thestreet-downgrades-ubiquiti-networks-ubnt-to-c.html.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

Receive News & Ratings for Ubiquiti Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit