BMO Capital Markets Boosts Ubiquiti Networks (UBNT) Price Target to $99.00

Ubiquiti Networks (NASDAQ:UBNT) had its price objective upped by BMO Capital Markets to $99.00 in a report published on Monday, The Fly reports. They currently have a market perform rating on the Wireless communications provider’s stock.

Other equities analysts have also recently issued reports about the company. Credit Suisse Group set a $86.00 price objective on Ubiquiti Networks and gave the company a hold rating in a report on Monday. BidaskClub raised Ubiquiti Networks from a buy rating to a strong-buy rating in a report on Friday, November 2nd. Bank of America lifted their price objective on Ubiquiti Networks from $52.50 to $62.00 and gave the company an underperform rating in a report on Monday, October 29th. Zacks Investment Research raised Ubiquiti Networks from a hold rating to a strong-buy rating and set a $103.00 price objective for the company in a report on Thursday, August 30th. Finally, ValuEngine cut Ubiquiti Networks from a strong-buy rating to a buy rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. Ubiquiti Networks presently has an average rating of Hold and an average target price of $79.96.

UBNT opened at $108.42 on Monday. The firm has a market capitalization of $7.67 billion, a P/E ratio of 29.62, a PEG ratio of 2.22 and a beta of 1.11. Ubiquiti Networks has a 1 year low of $49.40 and a 1 year high of $112.38. The company has a quick ratio of 7.96, a current ratio of 6.12 and a debt-to-equity ratio of 1.68.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Friday, November 9th. The Wireless communications provider reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.34. The business had revenue of $282.90 million during the quarter, compared to the consensus estimate of $270.60 million. Ubiquiti Networks had a return on equity of 87.51% and a net margin of 19.64%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. On average, research analysts expect that Ubiquiti Networks will post 3.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Monday, November 19th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.00 annualized dividend and a yield of 0.92%. Ubiquiti Networks’s dividend payout ratio is presently 27.32%.

In other Ubiquiti Networks news, VP Benjamin Moore sold 100,000 shares of Ubiquiti Networks stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $87.91, for a total value of $8,791,000.00. Following the completion of the transaction, the vice president now directly owns 673,206 shares of the company’s stock, valued at approximately $59,181,539.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 78.70% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of UBNT. First Trust Advisors LP raised its holdings in shares of Ubiquiti Networks by 683.1% during the 3rd quarter. First Trust Advisors LP now owns 429,092 shares of the Wireless communications provider’s stock worth $42,420,000 after buying an additional 374,299 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Ubiquiti Networks during the 2nd quarter worth $15,342,000. Paloma Partners Management Co acquired a new position in shares of Ubiquiti Networks during the 2nd quarter worth $9,607,000. Renaissance Technologies LLC raised its holdings in shares of Ubiquiti Networks by 31.8% during the 3rd quarter. Renaissance Technologies LLC now owns 438,000 shares of the Wireless communications provider’s stock worth $43,301,000 after buying an additional 105,700 shares in the last quarter. Finally, Rational Advisors LLC acquired a new position in shares of Ubiquiti Networks during the 3rd quarter worth $7,790,000. 27.10% of the stock is owned by institutional investors.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

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