KVH Industries (NASDAQ:KVHI) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of KVH Industries (NASDAQ:KVHI) from a hold rating to a strong sell rating in a research report report published on Wednesday, Zacks.com reports.

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. “

Several other analysts have also recently issued reports on KVHI. Needham & Company LLC reissued a buy rating and issued a $200.00 target price (up from $140.00) on shares of Universal Display in a research note on Friday, May 3rd. B. Riley set a $13.00 price objective on Audioeye and gave the company a buy rating in a research report on Monday, May 13th. Chardan Capital set a $25.00 price objective on Tocagen and gave the company a buy rating in a research report on Tuesday, May 14th. Raymond James set a $12.00 price objective on KVH Industries and gave the company a buy rating in a research report on Friday, May 17th. Finally, ValuEngine cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $14.20.

NASDAQ KVHI opened at $10.24 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. KVH Industries has a 1 year low of $9.09 and a 1 year high of $13.20. The business has a 50-day simple moving average of $10.12.

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

In other KVH Industries news, CEO Van Heyningen Martin Kits sold 2,676 shares of KVH Industries stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $9.40, for a total transaction of $25,154.40. Following the sale, the chief executive officer now directly owns 841,105 shares of the company’s stock, valued at approximately $7,906,387. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 10,375 shares of company stock worth $101,534. Insiders own 11.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in KVH Industries by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,209,227 shares of the communications equipment provider’s stock valued at $12,443,000 after acquiring an additional 19,010 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of KVH Industries by 96.1% in the 1st quarter. Moors & Cabot Inc. now owns 199,936 shares of the communications equipment provider’s stock worth $2,028,000 after purchasing an additional 97,968 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of KVH Industries by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 143,197 shares of the communications equipment provider’s stock worth $1,473,000 after purchasing an additional 7,300 shares in the last quarter. SPC Financial Inc. boosted its position in shares of KVH Industries by 92.1% in the 1st quarter. SPC Financial Inc. now owns 41,610 shares of the communications equipment provider’s stock worth $424,000 after purchasing an additional 19,955 shares in the last quarter. Finally, White Pine Capital LLC bought a new stake in shares of KVH Industries in the 1st quarter worth approximately $401,000. 55.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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