Analysts Set Echostar CORP (NASDAQ:ECHO) PT at $134.88

Echostar CORP (NASDAQ:ECHO) has received a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $137.8750.

Several research firms have commented on ECHO. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective on the stock in a report on Friday, July 17th. Weiss Ratings began coverage on shares of Echostar in a research note on Monday, July 6th. They issued a “sell (d-)” rating for the company. Williams Trading set a $155.00 price target on shares of Echostar in a research report on Monday, May 18th. TD Cowen dropped their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, UBS Group raised shares of Echostar from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $127.00 to $150.00 in a report on Tuesday, September 8th.

Echostar Stock Up 0.8%

Shares of ECHO stock opened at $93.89 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20. The stock has a market cap of $27.27 billion, a price-to-earnings ratio of -3.77 and a beta of 1.00. The business’s 50 day moving average is $90.04. Echostar has a 12-month low of $65.76 and a 12-month high of $147.25.

Echostar (NASDAQ:ECHO) last released its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. The firm had revenue of $3.67 billion during the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. As a group, equities analysts expect that Echostar will post -1.35 EPS for the current year.

Insider Buying and Selling at Echostar

In related news, Director William Wade sold 2,425 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the sale, the director directly owned 324 shares in the company, valued at approximately $29,639.52. The trade was a 88.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Bye sold 8,508 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the sale, the director directly owned 653 shares in the company, valued at $58,658.99. This trade represents a 92.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,508 shares of company stock worth $1,224,686. Company insiders own 55.70% of the company’s stock.

Hedge Funds Weigh In On Echostar

Large investors have recently modified their holdings of the company. Bellwether Advisors LLC bought a new position in Echostar during the 4th quarter valued at about $3,593,000. Dockside LLC purchased a new stake in Echostar in the 4th quarter worth about $1,554,000. Seven Grand Managers LLC bought a new stake in Echostar in the fourth quarter worth about $21,740,000. Legal & General Group Plc boosted its position in shares of Echostar by 47.0% during the fourth quarter. Legal & General Group Plc now owns 356,447 shares of the company’s stock valued at $38,746,000 after buying an additional 114,018 shares during the period. Finally, DNB Asset Management AS purchased a new position in shares of Echostar during the fourth quarter valued at approximately $3,110,000. 33.62% of the stock is currently owned by institutional investors.

Echostar Company Profile

EchoStar Corporation is a global communications and technology company that provides satellite, broadband, and wireless connectivity services. Its operations include satellite communications, broadband internet, enterprise networking, and related technology solutions for consumers, businesses, and government customers.

Through its Hughes business, EchoStar provides satellite-based broadband services under the HughesNet brand, as well as managed network services, equipment, and connectivity solutions for residential and commercial users.