Universal Electronics (UEIC) Rating Lowered to Sell at BidaskClub

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Universal Electronics (NASDAQ:UEIC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other brokerages have also commented on UEIC. B. Riley set a $42.00 price objective on shares of Universal Electronics and gave the company a “hold” rating in a research report on Friday, August 3rd. Sidoti lowered shares of Universal Electronics from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Tuesday, September 4th. TheStreet raised shares of Universal Electronics from a “d+” rating to a “c” rating in a research report on Friday, August 3rd. ValuEngine raised shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Saturday, July 7th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $52.00.

Universal Electronics stock opened at $34.45 on Thursday. The firm has a market cap of $544.24 million, a price-to-earnings ratio of 12.27, a PEG ratio of 13.12 and a beta of 1.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.33 and a quick ratio of 0.84. Universal Electronics has a fifty-two week low of $26.97 and a fifty-two week high of $66.60.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.38 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.38. The business had revenue of $162.52 million during the quarter, compared to analyst estimates of $161.15 million. Universal Electronics had a net margin of 1.02% and a return on equity of 15.77%. Equities analysts forecast that Universal Electronics will post 0.2 earnings per share for the current fiscal year.

In other news, insider Richard A. Firehammer, Jr. sold 4,032 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $40.07, for a total transaction of $161,562.24. Following the completion of the transaction, the insider now owns 4,032 shares of the company’s stock, valued at $161,562.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.97% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new position in Universal Electronics in the second quarter worth about $109,000. SG Americas Securities LLC acquired a new position in Universal Electronics in the second quarter worth about $166,000. KBC Group NV acquired a new position in Universal Electronics in the second quarter worth about $205,000. Engineers Gate Manager LP acquired a new position in Universal Electronics in the second quarter worth about $234,000. Finally, First Mercantile Trust Co. raised its position in Universal Electronics by 17.4% in the second quarter. First Mercantile Trust Co. now owns 9,797 shares of the technology company’s stock worth $324,000 after purchasing an additional 1,451 shares in the last quarter.

Universal Electronics Company Profile

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.

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