Zacks Investment Research Upgrades KVH Industries (NASDAQ:KVHI) to Hold


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KVH Industries (NASDAQ:KVHI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “

Separately, Raymond James upped their price target on KVH Industries from $10.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 9th.

Shares of NASDAQ:KVHI opened at $13.57 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.62 and a debt-to-equity ratio of 0.02. KVH Industries has a 52-week low of $7.38 and a 52-week high of $15.29. The stock’s fifty day simple moving average is $13.15 and its 200-day simple moving average is $12.00. The company has a market capitalization of $250.10 million, a P/E ratio of -17.40 and a beta of 0.81.

KVH Industries (NASDAQ:KVHI) last released its earnings results on Monday, March 1st. The communications equipment provider reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.11. The firm had revenue of $44.13 million during the quarter, compared to analyst estimates of $48.07 million. KVH Industries had a negative return on equity of 5.95% and a negative net margin of 8.78%. On average, sell-side analysts anticipate that KVH Industries will post -0.41 earnings per share for the current year.

In other KVH Industries news, CAO Jennifer Louise Baker sold 10,861 shares of the stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $12.74, for a total value of $138,369.14. Following the transaction, the chief accounting officer now directly owns 12,923 shares of the company’s stock, valued at approximately $164,639.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Felise Feingold sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $13.01, for a total transaction of $29,923.00. Following the transaction, the senior vice president now directly owns 59,414 shares in the company, valued at $772,976.14. The disclosure for this sale can be found here. Insiders have sold 32,226 shares of company stock worth $3,180,658 over the last ninety days. Company insiders own 13.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in KVHI. Citigroup Inc. increased its stake in KVH Industries by 271.6% in the fourth quarter. Citigroup Inc. now owns 3,129 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 2,287 shares in the last quarter. Morgan Stanley increased its stake in KVH Industries by 23.9% during the 3rd quarter. Morgan Stanley now owns 25,336 shares of the communications equipment provider’s stock valued at $229,000 after purchasing an additional 4,885 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of KVH Industries by 14.1% during the 4th quarter. Rhumbline Advisers now owns 27,934 shares of the communications equipment provider’s stock valued at $317,000 after acquiring an additional 3,459 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in shares of KVH Industries by 60.9% in the fourth quarter. Susquehanna International Group LLP now owns 42,516 shares of the communications equipment provider’s stock worth $483,000 after buying an additional 16,089 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of KVH Industries by 1.6% in the fourth quarter. Nuveen Asset Management LLC now owns 68,144 shares of the communications equipment provider’s stock worth $773,000 after buying an additional 1,102 shares during the last quarter. 56.61% of the stock is owned by institutional investors and hedge funds.

About KVH Industries

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 operates through Mobile Connectivity and Inertial Navigation segments. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard TracPhone terminals and hub equipment; data management software for maritime communications; and Iridium OpenPort hardware products and services.

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