KVH Industries, Inc. (NASDAQ:KVHI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $14.00 target price on the communications equipment provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.45% from the company’s previous close.

According to Zacks, “KVH Europe A/S is a wholly owned subsidiary of USA-based KVH Industries, Inc. KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than one lakhs mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. KVH Europe is the preferred supplier of marine satellite TV systems to leading powerboat builders like Sunseeker, Princess, Fairline, Rodriquez, Azimut, and Astondoa. KVH’s mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. “

Shares of KVH Industries (NASDAQ KVHI) opened at 12.45 on Wednesday. KVH Industries has a 12 month low of $7.50 and a 12 month high of $12.75. The stock’s market capitalization is $212.75 million. The company’s 50 day moving average price is $11.69 and its 200 day moving average price is $10.04.

KVH Industries (NASDAQ:KVHI) last issued its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.20. The firm had revenue of $40.50 million during the quarter, compared to analysts’ expectations of $40.55 million. KVH Industries had a positive return on equity of 1.85% and a negative net margin of 6.35%. KVH Industries’s revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. Equities analysts anticipate that KVH Industries will post $0.12 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its holdings in KVH Industries by 0.8% during the second quarter. Parametric Portfolio Associates LLC now owns 20,669 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 165 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in KVH Industries by 1.9% during the second quarter. PNC Financial Services Group Inc. now owns 22,000 shares of the communications equipment provider’s stock worth $210,000 after purchasing an additional 400 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in KVH Industries by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 124,423 shares of the communications equipment provider’s stock worth $1,046,000 after purchasing an additional 774 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in KVH Industries by 26.6% during the first quarter. Russell Investments Group Ltd. now owns 13,311 shares of the communications equipment provider’s stock worth $112,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in KVH Industries by 14.0% during the second quarter. Teachers Advisors LLC now owns 26,203 shares of the communications equipment provider’s stock worth $249,000 after purchasing an additional 3,227 shares during the last quarter. 61.31% of the stock is owned by hedge funds and other institutional investors.

About KVH Industries

KVH Industries, Inc is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets.

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