Echostar CORP (NASDAQ:ECHO) Receives $132.00 Average Price Target from Analysts

Shares of Echostar CORP (NASDAQ:ECHO) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $132.00.

ECHO has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 target price on shares of Echostar in a research report on Wednesday, July 15th. TD Cowen reduced their price objective on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a report on Friday, July 17th. Wall Street Zen raised Echostar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings assumed coverage on Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating on the stock.

Echostar Price Performance

Shares of ECHO stock opened at $86.92 on Tuesday. Echostar has a 12-month low of $26.52 and a 12-month high of $147.25. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. The firm has a market cap of $25.25 billion, a PE ratio of -3.49 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. The company had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Research analysts anticipate that Echostar will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the sale, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William David Wade sold 2,575 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the completion of the sale, the director owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. This represents a 48.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 66,094 shares of company stock worth $7,587,592. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Echostar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in shares of Echostar by 4.1% during the 1st quarter. Parallel Advisors LLC now owns 2,089 shares of the company’s stock valued at $245,000 after buying an additional 83 shares in the last quarter. Diversified Trust Co boosted its holdings in Echostar by 0.4% in the 1st quarter. Diversified Trust Co now owns 22,845 shares of the company’s stock worth $2,674,000 after buying an additional 84 shares during the period. HB Wealth Management LLC grew its stake in Echostar by 2.0% in the 4th quarter. HB Wealth Management LLC now owns 4,933 shares of the company’s stock valued at $536,000 after buying an additional 98 shares in the last quarter. Strs Ohio grew its stake in Echostar by 0.5% in the 1st quarter. Strs Ohio now owns 19,100 shares of the company’s stock valued at $2,236,000 after buying an additional 100 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Echostar by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company’s stock valued at $611,000 after acquiring an additional 114 shares during the period. Institutional investors own 33.62% of the company’s stock.

About Echostar

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.