ViaSat, Inc. (VSAT) Given Average Recommendation of “Hold” by Brokerages
Shares of ViaSat, Inc. (NASDAQ:VSAT) have earned a consensus recommendation of “Hold” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $73.20.
A number of equities research analysts have recently issued reports on VSAT shares. Royal Bank Of Canada reduced their price objective on ViaSat from $50.00 to $48.00 and set an “underperform” rating for the company in a report on Thursday, October 5th. Jefferies Group LLC set a $67.00 price objective on ViaSat and gave the stock a “hold” rating in a report on Sunday, September 10th. Zacks Investment Research upgraded shares of ViaSat from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Needham & Company LLC upgraded shares of ViaSat from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Friday, November 10th. Finally, B. Riley reiterated a “buy” rating and issued a $89.00 price target on shares of ViaSat in a research report on Thursday, November 9th.
Shares of ViaSat (NASDAQ:VSAT) opened at $73.60 on Thursday. ViaSat has a 1-year low of $57.75 and a 1-year high of $74.95. The stock has a market capitalization of $4,338.09, a P/E ratio of 1,489.80 and a beta of 0.74. The company has a current ratio of 2.26, a quick ratio of 1.71 and a debt-to-equity ratio of 0.37.
ViaSat (NASDAQ:VSAT) last issued its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The company had revenue of $393.10 million during the quarter, compared to analysts’ expectations of $401.83 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. equities research analysts expect that ViaSat will post -0.98 EPS for the current year.
In other ViaSat news, Director Jeffrey M. Nash sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $61.91, for a total transaction of $123,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark D. Dankberg sold 28,500 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $60.12, for a total transaction of $1,713,420.00. Following the transaction, the chief executive officer now owns 28,500 shares of the company’s stock, valued at $1,713,420. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,300 shares of company stock valued at $8,169,794. Company insiders own 7.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in ViaSat by 1,936.1% during the second quarter. JPMorgan Chase & Co. now owns 12,135 shares of the communications equipment provider’s stock valued at $803,000 after purchasing an additional 11,539 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in ViaSat by 123.0% during the second quarter. BNP Paribas Arbitrage SA now owns 26,641 shares of the communications equipment provider’s stock valued at $1,764,000 after purchasing an additional 14,694 shares in the last quarter. Fiduciary Management Inc. WI acquired a new position in ViaSat during the second quarter valued at approximately $28,948,000. Comerica Bank raised its position in ViaSat by 27.5% during the second quarter. Comerica Bank now owns 52,615 shares of the communications equipment provider’s stock valued at $3,471,000 after purchasing an additional 11,334 shares in the last quarter. Finally, New South Capital Management Inc. raised its position in ViaSat by 12.2% during the second quarter. New South Capital Management Inc. now owns 2,309,525 shares of the communications equipment provider’s stock valued at $152,891,000 after purchasing an additional 251,890 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.
ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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