UBS AG (NYSE:UBS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “UBS Group AG’s profitability growth continues to be challenged by a stressed operating environment with negative interest rates and global growth concerns. Further, in view of the current regulatory and political scenario affecting financial institutions, the company is burdened with a number of claims, disputes, legal proceedings and government investigations. However, we remain optimistic as the company remains focused on building capital level, executing restructuring initiatives, including cost control. Management remains confident to achieve CHF 2.1 billion in net cost reductions by the end of 2017.”
UBS has been the subject of several other reports. Credit Suisse Group AG began coverage on shares of UBS AG in a research report on Monday, September 19th. They issued a “neutral” rating for the company. Vetr upgraded shares of UBS AG from a “hold” rating to a “buy” rating and set a $14.27 target price for the company in a research report on Monday, September 19th. Barclays PLC upgraded shares of UBS AG from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $21.00 to $17.00 in a research report on Thursday, June 9th. Keefe, Bruyette & Woods restated a “buy” rating on shares of UBS AG in a research report on Tuesday, June 28th. Finally, Sanford C. Bernstein began coverage on shares of UBS AG in a research report on Monday, July 11th. They issued an “underperform” rating for the company. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $16.87.
UBS AG (NYSE:UBS) traded up 1.85% during midday trading on Tuesday, reaching $13.77. 2,019,125 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $13.97 and its 200 day moving average price is $14.57. The firm has a market cap of $51.04 billion, a price-to-earnings ratio of 10.73 and a beta of 1.33. UBS AG has a 1-year low of $11.93 and a 1-year high of $20.70.
A number of institutional investors have recently added to or reduced their stakes in UBS. IFP Advisors Inc boosted its position in UBS AG by 44.1% in the second quarter. IFP Advisors Inc now owns 8,494 shares of the company’s stock worth $110,000 after buying an additional 2,598 shares in the last quarter. First Interstate Bank raised its stake in UBS AG by 160.2% in the second quarter. First Interstate Bank now owns 9,250 shares of the company’s stock worth $119,000 after buying an additional 5,695 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in UBS AG during the second quarter worth $134,000. Rehmann Capital Advisory Group acquired a new stake in UBS AG during the second quarter worth $135,000. Finally, BTC Capital Management Inc. acquired a new stake in UBS AG during the second quarter worth $137,000. Institutional investors and hedge funds own 26.90% of the company’s stock.
About UBS AG
UBS Group AG (UBS) is a holding company. The Company provides a range of financial services, including advisory services, underwriting, financing, market-making, asset management and brokerage on a global level, and retail banking in Switzerland. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank.
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