Universal Electronics (NASDAQ:UEIC) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Universal Electronics (NASDAQ:UEIC – Get Rating) from a hold rating to a buy rating in a research note released on Friday.

A number of other equities research analysts also recently issued reports on the company. B. Riley decreased their price objective on Universal Electronics from $62.00 to $53.00 in a research report on Friday, February 18th. TheStreet downgraded Universal Electronics from a c rating to a d+ rating in a research report on Thursday, May 5th. Finally, Zacks Investment Research cut shares of Universal Electronics from a hold rating to a strong sell rating in a research report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and an average price target of $64.33.

NASDAQ UEIC opened at $26.52 on Friday. The stock has a 50 day moving average price of $30.09 and a 200-day moving average price of $34.50. Universal Electronics has a one year low of $26.00 and a one year high of $53.07. The company has a market capitalization of $334.95 million, a P/E ratio of -68.00 and a beta of 1.10.

Universal Electronics (NASDAQ:UEIC – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.15). Universal Electronics had a negative net margin of 0.79% and a negative return on equity of 1.60%. The business had revenue of $132.41 million for the quarter, compared to the consensus estimate of $135.06 million. On average, equities analysts expect that Universal Electronics will post 0.51 EPS for the current fiscal year.

In other Universal Electronics news, Director William C. Mulligan acquired 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was bought at an average price of $31.84 per share, for a total transaction of $206,960.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.09% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC purchased a new stake in shares of Universal Electronics in the fourth quarter valued at approximately $80,000. SG Americas Securities LLC lifted its holdings in shares of Universal Electronics by 24.7% in the 1st quarter. SG Americas Securities LLC now owns 5,251 shares of the technology company’s stock worth $164,000 after buying an additional 1,040 shares during the period. MetLife Investment Management LLC grew its position in shares of Universal Electronics by 59.9% during the 1st quarter. MetLife Investment Management LLC now owns 7,056 shares of the technology company’s stock worth $220,000 after buying an additional 2,644 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Universal Electronics during the fourth quarter valued at $224,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Universal Electronics in the fourth quarter valued at about $237,000. Institutional investors and hedge funds own 87.74% of the company’s stock.

Universal Electronics Company Profile (Get Rating)

Universal Electronics Inc designs, develops, manufactures, and sells pre-programmed and universal control products, audio-video (AV) accessories, and intelligent wireless security and smart home products for video services, consumer electronics, security, home automation, climate control, and home appliance markets.

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