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

Ubiquiti Inc. (NYSE:UI)’s share price gapped down before the market opened 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.

Other equities research analysts also recently issued reports about the company. BWS Financial lifted their price objective on Ubiquiti from $385.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th.

Institutional Investors Weigh In On Ubiquiti

A number of institutional investors and hedge funds have recently modified their holdings of UI. Farther Finance Advisors LLC raised its position in Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock valued at $40,000 after buying an additional 39 shares during the period. HighTower Advisors LLC acquired a new position in Ubiquiti in the 4th quarter worth about $1,531,000. Wealthfront Advisers LLC acquired a new position in Ubiquiti in the 4th quarter worth about $9,274,000. Edgestream Partners L.P. increased its position in Ubiquiti by 103.0% in the 4th quarter. Edgestream Partners L.P. now owns 10,258 shares of the company’s stock worth $3,405,000 after purchasing an additional 5,204 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Ubiquiti in the 4th quarter worth about $1,246,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Stock Performance

The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. The firm has a 50-day simple moving average of $369.19 and a two-hundred day simple moving average of $282.06. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 51.21 and a beta of 1.14.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, February 14th. The company reported $2.26 earnings per share 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%. As a group, sell-side analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.40 annualized dividend and a yield of 0.72%. Ubiquiti’s payout ratio is 37.15%.

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.