ViaSat (NASDAQ:VSAT) had its price target dropped by equities researchers at Wells Fargo & Co to $84.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “outperform” rating on the communications equipment provider’s stock. Wells Fargo & Co’s price target indicates a potential upside of 34.23% from the company’s previous close.
Several other brokerages also recently commented on VSAT. BidaskClub downgraded shares of ViaSat from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. TheStreet downgraded shares of ViaSat from a “c” rating to a “d+” rating in a research note on Tuesday, April 10th. Barclays downgraded shares of ViaSat from an “equal weight” rating to an “underweight” rating and set a $75.00 target price on the stock. in a research note on Thursday, March 29th. Zacks Investment Research upgraded shares of ViaSat from a “strong sell” rating to a “hold” rating in a research note on Friday, April 13th. Finally, Royal Bank of Canada set a $52.00 target price on shares of ViaSat and gave the company a “sell” rating in a research note on Tuesday, March 27th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.70.
VSAT opened at $62.58 on Friday. ViaSat has a fifty-two week low of $57.75 and a fifty-two week high of $80.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.21 and a current ratio of 1.68. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -72.77, a price-to-earnings-growth ratio of 124.73 and a beta of 0.88.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 24th. The communications equipment provider reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.40. ViaSat had a negative net margin of 4.22% and a negative return on equity of 2.57%. The firm had revenue of $439.70 million for the quarter, compared to the consensus estimate of $424.47 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts anticipate that ViaSat will post 0.02 EPS for the current fiscal year.
In related news, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $69.86, for a total transaction of $48,902.00. Following the transaction, the director now owns 10,300 shares in the company, valued at approximately $719,558. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Keven K. Lippert sold 1,800 shares of the company’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $72.13, for a total transaction of $129,834.00. Following the transaction, the insider now owns 170 shares in the company, valued at approximately $12,262.10. The disclosure for this sale can be found here. Insiders sold a total of 12,087 shares of company stock worth $825,341 in the last 90 days. 7.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of VSAT. Schwab Charles Investment Management Inc. lifted its position in ViaSat by 3.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 398,511 shares of the communications equipment provider’s stock worth $29,829,000 after buying an additional 12,564 shares in the last quarter. SG Americas Securities LLC lifted its position in ViaSat by 7.4% during the 4th quarter. SG Americas Securities LLC now owns 10,153 shares of the communications equipment provider’s stock worth $760,000 after buying an additional 703 shares in the last quarter. Cambiar Investors LLC acquired a new position in ViaSat during the 4th quarter worth about $340,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ViaSat by 54.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,809 shares of the communications equipment provider’s stock worth $210,000 after buying an additional 987 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new position in ViaSat during the 4th quarter worth about $328,000.
Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers fixed broadband services, including broadband Internet access and voice over Internet protocol services under the Exede and WildBlue brands to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems; and enterprise broadband services.
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