B. Riley upgraded shares of Universal Electronics (NASDAQ:UEIC) from a neutral rating to a buy rating in a research note released on Friday morning, MarketBeat.com reports. They currently have $42.00 target price on the technology company’s stock.
Other research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Universal Electronics from a d+ rating to a c rating in a research report on Friday, August 3rd. Zacks Investment Research downgraded shares of Universal Electronics from a buy rating to a hold rating in a research report on Wednesday. ValuEngine upgraded shares of Universal Electronics from a sell rating to a hold rating in a research report on Thursday, August 2nd. BidaskClub downgraded shares of Universal Electronics from a buy rating to a hold rating in a research report on Wednesday, September 5th. Finally, Sidoti downgraded shares of Universal Electronics from a buy rating to a neutral rating and set a $44.00 price target on the stock. in a research report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Universal Electronics presently has an average rating of Hold and a consensus price target of $43.00.
Shares of NASDAQ UEIC traded up $5.13 during midday trading on Friday, reaching $36.80. The stock had a trading volume of 322,876 shares, compared to its average volume of 84,372. The company has a market capitalization of $453.79 million, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 10.94 and a beta of 1.32. Universal Electronics has a twelve month low of $26.97 and a twelve month high of $56.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.84 and a current ratio of 1.33.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, November 8th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.33. The firm had revenue of $182.72 million for the quarter, compared to the consensus estimate of $184.11 million. Universal Electronics had a net margin of 1.02% and a return on equity of 15.77%. Analysts forecast that Universal Electronics will post 0.2 earnings per share for the current year.
In related news, insider Richard A. Firehammer, Jr. sold 4,032 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $40.07, for a total transaction of $161,562.24. Following the transaction, the insider now owns 4,032 shares in the company, valued at approximately $161,562.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.97% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Universal Electronics by 2.5% during the 3rd quarter. BlackRock Inc. now owns 2,008,120 shares of the technology company’s stock valued at $79,019,000 after acquiring an additional 49,053 shares during the period. Wellington Shields Capital Management LLC lifted its position in shares of Universal Electronics by 41.4% during the 3rd quarter. Wellington Shields Capital Management LLC now owns 66,870 shares of the technology company’s stock valued at $2,631,000 after acquiring an additional 19,590 shares during the period. Investment Counselors of Maryland LLC lifted its position in shares of Universal Electronics by 129.4% during the 3rd quarter. Investment Counselors of Maryland LLC now owns 363,790 shares of the technology company’s stock valued at $14,315,000 after acquiring an additional 205,222 shares during the period. Ingalls & Snyder LLC acquired a new position in shares of Universal Electronics during the 3rd quarter valued at $220,000. Finally, Engaged Capital LLC acquired a new position in shares of Universal Electronics during the 2nd quarter valued at $8,318,000.
About Universal Electronics
Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.
Further Reading: Rule of 72
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