BidaskClub Lowers ViaSat (VSAT) to Sell

BidaskClub cut shares of ViaSat (NASDAQ:VSAT) from a hold rating to a sell rating in a report published on Saturday morning.

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada restated an underperform rating and issued a $46.00 target price (down previously from $48.00) on shares of ViaSat in a report on Tuesday, November 21st. Zacks Investment Research cut shares of ViaSat from a strong-buy rating to a hold rating in a report on Tuesday, November 14th. Needham & Company LLC upgraded shares of ViaSat from a hold rating to a buy rating and set a $78.00 target price on the stock in a report on Friday, November 10th. B. Riley restated a buy rating and issued a $89.00 target price on shares of ViaSat in a report on Thursday, November 9th. Finally, Jefferies Group set a $67.00 target price on shares of ViaSat and gave the stock a hold rating in a report on Sunday, September 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $73.36.

ViaSat (VSAT) opened at $71.03 on Friday. ViaSat has a 52-week low of $57.75 and a 52-week high of $74.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.71 and a current ratio of 2.26. The company has a market cap of $4,183.18, a P/E ratio of 1,436.60 and a beta of 0.78.

ViaSat (NASDAQ:VSAT) last issued its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share (EPS) 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 firm had revenue of $393.10 million for the quarter, compared to analysts’ expectations of $401.83 million. During the same quarter last year, the business earned $0.40 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. equities research analysts predict that ViaSat will post -0.98 EPS for the current fiscal year.

In related news, Director B Allen Lay sold 5,000 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $73.53, for a total value of $367,650.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $367,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $74.10, for a total value of $51,870.00. Following the completion of the sale, the director now directly owns 10,300 shares of the company’s stock, valued at approximately $763,230. The disclosure for this sale can be found here. Insiders sold 109,800 shares of company stock valued at $7,197,623 in the last ninety days. 7.70% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in VSAT. Capstone Asset Management Co. lifted its position in ViaSat by 5.6% during the second quarter. Capstone Asset Management Co. now owns 3,976 shares of the communications equipment provider’s stock valued at $263,000 after buying an additional 210 shares during the period. Aperio Group LLC lifted its position in ViaSat by 51.6% during the second quarter. Aperio Group LLC now owns 5,990 shares of the communications equipment provider’s stock valued at $397,000 after buying an additional 2,040 shares during the period. Russell Investments Group Ltd. lifted its position in ViaSat by 14.9% during the second quarter. Russell Investments Group Ltd. now owns 104,223 shares of the communications equipment provider’s stock valued at $6,900,000 after buying an additional 13,550 shares during the period. Strs Ohio lifted its position in ViaSat by 11.1% during the second quarter. Strs Ohio now owns 7,000 shares of the communications equipment provider’s stock valued at $463,000 after buying an additional 700 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in ViaSat by 3.3% during the second quarter. Great West Life Assurance Co. Can now owns 32,477 shares of the communications equipment provider’s stock valued at $2,148,000 after buying an additional 1,033 shares during the period. 99.42% of the stock is owned by institutional investors.

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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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