Universal Electronics Inc. (NASDAQ:UEIC) was upgraded by B. Riley from a “neutral” rating to a “buy” rating in a report released on Monday. The firm currently has a $73.50 price target on the stock. B. Riley’s price target would suggest a potential upside of 7.14% from the stock’s previous close.
UEIC has been the subject of several other reports. Zacks Investment Research upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Sidoti assumed coverage on shares of Universal Electronics in a research report on Friday, July 22nd. They set a “buy” rating for the company. Lake Street Capital assumed coverage on shares of Universal Electronics in a research report on Thursday, August 18th. They set a “buy” rating and a $87.00 price objective for the company. Finally, Dougherty & Co raised their price objective on shares of Universal Electronics from $70.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Universal Electronics currently has a consensus rating of “Buy” and a consensus price target of $74.92.
Universal Electronics (NASDAQ:UEIC) traded down 0.22% during midday trading on Monday, reaching $68.60. The company had a trading volume of 26,582 shares. The stock’s 50 day moving average is $68.64 and its 200 day moving average is $71.09. The company has a market capitalization of $999.64 billion, a PE ratio of 38.32 and a beta of 1.90. Universal Electronics has a one year low of $45.20 and a one year high of $80.42.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm earned $170.30 million during the quarter, compared to the consensus estimate of $173.98 million. Universal Electronics had a net margin of 4.05% and a return on equity of 16.85%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. Equities research analysts forecast that Universal Electronics will post $2.90 earnings per share for the current fiscal year.
In other Universal Electronics news, insider Richard A. Firehammer, Jr. sold 753 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $70.30, for a total transaction of $52,935.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J C. Sparkman sold 8,850 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $76.55, for a total transaction of $677,467.50. Following the transaction, the director now owns 45,018 shares of the company’s stock, valued at $3,446,127.90. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Asset Management increased its position in shares of Universal Electronics by 70.0% in the third quarter. Eagle Asset Management now owns 5,129,886 shares of the company’s stock valued at $215,608,000 after buying an additional 2,112,954 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Universal Electronics by 323.9% in the second quarter. William Blair Investment Management LLC now owns 717,505 shares of the company’s stock worth $51,861,000 after buying an additional 548,254 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Universal Electronics by 9.4% in the fourth quarter. Eagle Asset Management Inc. now owns 2,807,014 shares of the company’s stock worth $144,140,000 after buying an additional 242,071 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in Universal Electronics during the first quarter worth $12,634,000. Finally, UBS Asset Management Americas Inc. boosted its stake in Universal Electronics by 4,267.6% in the second quarter. UBS Asset Management Americas Inc. now owns 179,073 shares of the company’s stock worth $12,943,000 after buying an additional 174,973 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.
About Universal Electronics