Viasat (NASDAQ:VSAT) Shares Up 7.2%

Viasat, Inc. (NASDAQ:VSAT)’s stock price was up 7.2% during trading on Tuesday . The company traded as high as $16.65 and last traded at $16.62. Approximately 161,576 shares changed hands during trading, a decline of 85% from the average daily volume of 1,096,637 shares. The stock had previously closed at $15.51.

Analysts Set New Price Targets

Separately, Barclays decreased their target price on shares of Viasat from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Viasat presently has an average rating of “Hold” and an average price target of $38.17.

Viasat Stock Performance

The company has a quick ratio of 2.46, a current ratio of 2.71 and a debt-to-equity ratio of 1.40. The stock’s fifty day moving average is $17.92 and its 200-day moving average is $20.63. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 2.19 and a beta of 1.33.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.85). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Viasat had a net margin of 6.01% and a return on equity of 4.52%. On average, analysts forecast that Viasat, Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hanson & Doremus Investment Management raised its stake in Viasat by 24.0% during the 1st quarter. Hanson & Doremus Investment Management now owns 5,216 shares of the communications equipment provider’s stock valued at $94,000 after acquiring an additional 1,009 shares during the last quarter. Alaska Permanent Fund Corp acquired a new stake in shares of Viasat during the first quarter worth approximately $478,000. PNC Financial Services Group Inc. increased its position in Viasat by 49.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock worth $112,000 after buying an additional 1,335 shares during the period. Vanguard Group Inc. raised its stake in shares of Viasat by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 12,184,209 shares of the communications equipment provider’s stock valued at $340,549,000 after acquiring an additional 286,872 shares during the last quarter. Finally, Comerica Bank raised its holdings in Viasat by 3.1% in the fourth quarter. Comerica Bank now owns 35,820 shares of the communications equipment provider’s stock worth $1,001,000 after purchasing an additional 1,084 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.