Shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) have earned a consensus rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $58.06.
A number of equities research analysts recently weighed in on UBNT shares. Vetr upgraded Ubiquiti Networks from a “buy” rating to a “strong-buy” rating and set a $55.50 price target on the stock in a report on Monday, June 19th. BidaskClub upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Monday, July 10th. ValuEngine cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Credit Suisse Group reiterated a “sell” rating and set a $54.00 target price on shares of Ubiquiti Networks in a report on Friday, August 4th.
Shares of Ubiquiti Networks (NASDAQ UBNT) traded up 1.57% during trading on Friday, reaching $56.98. The company had a trading volume of 293,302 shares. The firm has a market capitalization of $4.58 billion, a P/E ratio of 18.44 and a beta of 0.51. Ubiquiti Networks has a 12 month low of $45.71 and a 12 month high of $67.80. The firm’s 50 day moving average price is $57.33 and its 200 day moving average price is $53.60.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $228.60 million for the quarter, compared to analysts’ expectations of $219.14 million. Ubiquiti Networks had a return on equity of 45.87% and a net margin of 29.76%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. Equities analysts predict that Ubiquiti Networks will post $3.68 EPS for the current year.
Ubiquiti Networks announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to reacquire up to 18% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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In other Ubiquiti Networks news, insider Robert J. Pera sold 1,000,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $61.25, for a total transaction of $61,250,000.00. Following the sale, the insider now owns 56,278,181 shares in the company, valued at approximately $3,447,038,586.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. 70.34% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of UBNT. PNC Financial Services Group Inc. lifted its stake in shares of Ubiquiti Networks by 4.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after purchasing an additional 80 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Ubiquiti Networks during the 1st quarter worth $113,000. Pacer Advisors Inc. lifted its stake in shares of Ubiquiti Networks by 22.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock worth $136,000 after purchasing an additional 490 shares during the period. SG Americas Securities LLC purchased a new position in shares of Ubiquiti Networks during the 2nd quarter worth $144,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Ubiquiti Networks by 26.0% during the 1st quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock worth $185,000 after purchasing an additional 760 shares during the period. 30.85% of the stock is currently owned by institutional investors.
Ubiquiti Networks Company Profile
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.
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