Viasat (NASDAQ:VSAT) Raised to “Strong-Buy” at New Street Research

Viasat (NASDAQ:VSAT) was upgraded by equities research analysts at New Street Research to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research analysts have also recently issued reports on VSAT. Needham & Company LLC upped their price target on Viasat from $45.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 27th. B. Riley Financial lifted their target price on Viasat from $52.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Morgan Stanley set a $51.00 target price on Viasat in a report on Friday, January 16th. Barclays upgraded Viasat from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $49.00 in a research report on Wednesday, April 8th. Finally, William Blair reissued an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.50.

Viasat Stock Up 5.3%

VSAT stock opened at $74.30 on Wednesday. The firm has a market cap of $10.09 billion, a PE ratio of -28.69 and a beta of 1.66. Viasat has a 12 month low of $8.61 and a 12 month high of $75.14. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. The firm has a 50 day simple moving average of $55.66 and a 200 day simple moving average of $45.19.

Insider Activity

In related news, SVP Craig Andrew Miller sold 5,260 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total transaction of $263,000.00. Following the transaction, the senior vice president directly owned 21,252 shares of the company’s stock, valued at approximately $1,062,600. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.21, for a total value of $110,904.00. Following the completion of the sale, the senior vice president directly owned 25,431 shares of the company’s stock, valued at approximately $1,175,166.51. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 38,071 shares of company stock worth $1,804,437 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Viasat

Large investors have recently made changes to their positions in the business. Quent Capital LLC purchased a new stake in shares of Viasat in the third quarter worth approximately $25,000. Valued Wealth Advisors LLC purchased a new position in Viasat during the first quarter valued at approximately $25,000. Hantz Financial Services Inc. increased its stake in Viasat by 6,815.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 886 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Viasat in the 4th quarter valued at approximately $36,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Viasat in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.