Ubiquiti (NYSE:UI) Cut to Sell at StockNews.com

Ubiquiti (NYSE:UI - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Wednesday.

Other equities analysts also recently issued research reports about the company. Barclays reduced their price target on Ubiquiti from $105.00 to $93.00 and set an "underweight" rating for the company in a research report on Monday, February 12th. BWS Financial restated a "buy" rating and issued a $160.00 price target on shares of Ubiquiti in a research note on Monday.

Ubiquiti Price Performance

UI traded down $6.03 during midday trading on Wednesday, hitting $112.24. 93,140 shares of the company's stock traded hands, compared to its average volume of 91,469. The company has a market cap of $6.79 billion, a PE ratio of 18.22 and a beta of 1.23. The stock's fifty day simple moving average is $117.86 and its 200-day simple moving average is $122.55. Ubiquiti has a one year low of $103.00 and a one year high of $269.40.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings results on Friday, February 9th. The company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.93 by ($0.57). Ubiquiti had a negative return on equity of 392.74% and a net margin of 19.83%. The business had revenue of $464.95 million for the quarter, compared to analyst estimates of $488.56 million. On average, research analysts expect that Ubiquiti will post 6.5 EPS for the current year.

Institutional Trading of Ubiquiti

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Ubiquiti by 23.1% during the 1st quarter. JPMorgan Chase & Co. now owns 12,068 shares of the company's stock valued at $3,514,000 after acquiring an additional 2,263 shares during the period. HighTower Advisors LLC lifted its stake in shares of Ubiquiti by 14.6% in the 1st quarter. HighTower Advisors LLC now owns 2,189 shares of the company's stock valued at $638,000 after purchasing an additional 279 shares during the period. Private Advisor Group LLC purchased a new position in Ubiquiti during the first quarter valued at $254,000. Citigroup Inc. raised its stake in Ubiquiti by 2.4% during the first quarter. Citigroup Inc. now owns 2,723 shares of the company's stock valued at $793,000 after buying an additional 64 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Ubiquiti by 14.5% during the first quarter. Bank of Montreal Can now owns 1,049 shares of the company's stock valued at $309,000 after buying an additional 133 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors.

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.

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