KVH Industries (NASDAQ:KVHI) Downgraded by ValuEngine

ValuEngine downgraded shares of KVH Industries (NASDAQ:KVHI) from a buy rating to a hold rating in a report published on Thursday, ValuEngine reports.

KVHI has been the subject of several other research reports. Raymond James set a $12.00 price objective on shares of KVH Industries and gave the stock a buy rating in a research report on Friday, May 17th. Needham & Company LLC reaffirmed a buy rating and set a $200.00 price objective (up previously from $140.00) on shares of Universal Display in a research report on Friday, May 3rd. B. Riley set a $13.00 price objective on shares of Audioeye and gave the stock a buy rating in a research report on Monday, May 13th. Chardan Capital set a $25.00 price objective on shares of Tocagen and gave the stock a buy rating in a research report on Tuesday, May 14th. Finally, Zacks Investment Research raised shares of Garrett Motion from a sell rating to a hold rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $14.20.

KVHI opened at $10.39 on Thursday. KVH Industries has a twelve month low of $9.09 and a twelve month high of $13.25. The business’s 50-day moving average price is $10.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.78.

KVH Industries (NASDAQ:KVHI) last posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.06). KVH Industries had a negative return on equity of 4.30% and a negative net margin of 6.16%. The firm had revenue of $39.97 million for the quarter, compared to the consensus estimate of $42.06 million. As a group, analysts anticipate that KVH Industries will post -0.27 EPS for the current fiscal year.

In other news, CEO Van Heyningen Martin Kits sold 2,676 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $9.40, for a total value of $25,154.40. Following the completion of the transaction, the chief executive officer now owns 841,105 shares of the company’s stock, valued at $7,906,387. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 10,375 shares of company stock valued at $101,534 in the last three months. Company insiders own 11.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of KVH Industries by 565.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,458 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 2,938 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of KVH Industries by 37.4% in the fourth quarter. Bank of America Corp DE now owns 14,693 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 3,999 shares during the last quarter. Rhumbline Advisers increased its stake in shares of KVH Industries by 44.0% in the fourth quarter. Rhumbline Advisers now owns 22,987 shares of the communications equipment provider’s stock valued at $237,000 after buying an additional 7,022 shares during the period. B. Riley Financial Inc. acquired a new position in shares of KVH Industries in the first quarter valued at approximately $255,000. Finally, White Pine Capital LLC acquired a new position in shares of KVH Industries in the first quarter valued at approximately $401,000. 55.06% of the stock is owned by hedge funds and other institutional investors.

KVH Industries Company Profile

KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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