Ubiquiti (NYSE:UI) Reaches New 12-Month High – Still a Buy?

Ubiquiti Inc. (NYSE:UI)’s stock price hit a new 52-week high on Monday . The stock traded as high as $277.27 and last traded at $277.27, with a volume of 18056 shares changing hands. The stock had previously closed at $270.41.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays lowered their price target on shares of Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a report on Tuesday, August 27th. StockNews.com downgraded shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Finally, BWS Financial lifted their price target on shares of Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 26th.

Ubiquiti Price Performance

The firm’s fifty day moving average price is $223.34 and its 200 day moving average price is $175.03. The company has a quick ratio of 1.59, a current ratio of 3.22 and a debt-to-equity ratio of 7.05. The stock has a market cap of $16.70 billion, a PE ratio of 46.70 and a beta of 1.13.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The company had revenue of $507.50 million during the quarter, compared to analysts’ expectations of $538.23 million. Ubiquiti’s revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Tuesday, September 3rd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ubiquiti’s dividend payout ratio is presently 41.45%.

Institutional Investors Weigh In On Ubiquiti

Several large investors have recently bought and sold shares of UI. nVerses Capital LLC bought a new stake in Ubiquiti in the second quarter worth $44,000. Raleigh Capital Management Inc. bought a new position in Ubiquiti during the third quarter valued at $47,000. Covestor Ltd increased its position in Ubiquiti by 29.0% during the first quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after acquiring an additional 116 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in Ubiquiti during the third quarter valued at $76,000. Finally, EntryPoint Capital LLC increased its position in Ubiquiti by 123.4% during the first quarter. EntryPoint Capital LLC now owns 735 shares of the company’s stock valued at $85,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 4.00% of the company’s stock.

About Ubiquiti

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.