ViaSat, Inc. (VSAT) Upgraded to “Buy” by Needham & Company LLC

Needham & Company LLC upgraded shares of ViaSat, Inc. (NASDAQ:VSAT) from a hold rating to a buy rating in a research note issued to investors on Friday. The firm currently has $78.00 price target on the communications equipment provider’s stock.

Several other research analysts have also weighed in on VSAT. B. Riley restated a buy rating and set a $89.00 target price on shares of ViaSat in a research report on Sunday, August 13th. TheStreet lowered shares of ViaSat from a b- rating to a c rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of ViaSat from a hold rating to a sell rating in a research report on Friday, August 11th. Royal Bank of Canada set a $50.00 target price on shares of ViaSat and gave the stock a sell rating in a research report on Tuesday, August 15th. Finally, Jefferies Group LLC set a $67.00 target price on shares of ViaSat and gave the stock a hold rating in a research report on Sunday, September 10th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. ViaSat presently has an average rating of Hold and a consensus price target of $74.09.

Shares of ViaSat (VSAT) traded up $3.50 on Friday, reaching $68.40. 947,200 shares of the company’s stock traded hands, compared to its average volume of 440,554. The company has a quick ratio of 1.44, a current ratio of 2.26 and a debt-to-equity ratio of 0.54. ViaSat has a one year low of $57.75 and a one year high of $82.19. The firm has a market capitalization of $3,779.59, a price-to-earnings ratio of 1,298.00 and a beta of 0.74.

ViaSat (NASDAQ:VSAT) last issued its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.07. ViaSat had a negative net margin of 0.75% and a positive return on equity of 0.13%. The company had revenue of $393.10 million for the quarter, compared to analyst estimates of $401.83 million. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. sell-side analysts predict that ViaSat will post -1.05 EPS for the current fiscal year.

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In other ViaSat news, Director Jeffrey M. Nash sold 2,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $61.91, for a total value of $123,820.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $63.70, for a total transaction of $44,590.00. Following the completion of the sale, the director now directly owns 8,700 shares in the company, valued at approximately $554,190. The disclosure for this sale can be found here. Insiders sold 124,350 shares of company stock worth $7,838,977 in the last ninety days. Insiders own 7.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of ViaSat by 1.6% during the second quarter. BlackRock Inc. now owns 5,478,099 shares of the communications equipment provider’s stock valued at $362,651,000 after buying an additional 84,457 shares during the period. Vanguard Group Inc. lifted its stake in shares of ViaSat by 0.7% during the second quarter. Vanguard Group Inc. now owns 4,459,294 shares of the communications equipment provider’s stock valued at $295,205,000 after buying an additional 30,325 shares during the period. New South Capital Management Inc. lifted its stake in shares of ViaSat by 12.2% during the second quarter. New South Capital Management Inc. now owns 2,309,525 shares of the communications equipment provider’s stock valued at $152,891,000 after buying an additional 251,890 shares during the period. Odey Asset Management Group Ltd lifted its stake in shares of ViaSat by 23.2% during the second quarter. Odey Asset Management Group Ltd now owns 2,148,954 shares of the communications equipment provider’s stock valued at $142,261,000 after buying an additional 404,251 shares during the period. Finally, State Street Corp lifted its stake in shares of ViaSat by 5.3% during the second quarter. State Street Corp now owns 1,762,352 shares of the communications equipment provider’s stock valued at $116,669,000 after buying an additional 88,421 shares during the period. 99.57% of the stock is currently owned by institutional investors and hedge funds.

About ViaSat

ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.

Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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