ViaSat (NASDAQ:VSAT) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of ViaSat (NASDAQ:VSAT) from a buy rating to a hold rating in a research report sent to investors on Friday, January 5th.

A number of other research analysts have also issued reports on the stock. 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. Royal Bank of Canada restated an underperform rating and issued a $46.00 target price (down from $48.00) on shares of ViaSat in a report on Tuesday, November 21st. Morgan Stanley started coverage on shares of ViaSat in a report on Friday, December 15th. They set an equal weight rating and a $78.00 price objective on the stock. Zacks Investment Research upgraded shares of ViaSat from a hold rating to a strong-buy rating and set a $75.00 price objective on the stock in a report on Monday, November 13th. Finally, Jefferies Group set a $67.00 price objective on shares of ViaSat and gave the stock a hold rating in a report on Sunday, September 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $73.75.

ViaSat (NASDAQ:VSAT) traded down $0.15 during trading hours on Friday, reaching $75.62. 372,061 shares of the company’s stock were exchanged, compared to its average volume of 300,646. The stock has a market cap of $4,467.38, a price-to-earnings ratio of -360.10 and a beta of 0.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.71 and a current ratio of 2.26. ViaSat has a 52 week low of $57.75 and a 52 week high of $80.26.

ViaSat (NASDAQ:VSAT) last released its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. The company had revenue of $393.10 million for the quarter, compared to analyst estimates of $401.83 million. ViaSat had a negative net margin of 0.75% and a positive return on equity of 0.13%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. equities analysts predict that ViaSat will post -0.98 earnings per share for the current year.

In related news, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $74.10, for a total value of $51,870.00. Following the transaction, the director now owns 10,300 shares in the company, valued at $763,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey M. Nash sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $72.26, for a total transaction of $144,520.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,700 shares of company stock worth $1,440,937. Insiders own 7.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ViaSat by 54.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,809 shares of the communications equipment provider’s stock valued at $210,000 after buying an additional 987 shares during the period. Cambiar Investors LLC acquired a new stake in ViaSat in the fourth quarter valued at approximately $340,000. SG Americas Securities LLC grew its position in ViaSat by 7.4% in the fourth quarter. SG Americas Securities LLC now owns 10,153 shares of the communications equipment provider’s stock valued at $760,000 after acquiring an additional 703 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in ViaSat in the fourth quarter valued at approximately $19,848,000. Finally, Schwab Charles Investment Management Inc. grew its position in ViaSat by 3.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 398,511 shares of the communications equipment provider’s stock valued at $29,829,000 after acquiring an additional 12,564 shares in the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

WARNING: This article was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally copied and reposted in violation of US and international copyright legislation. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/01/31/viasat-vsat-stock-rating-lowered-by-bidaskclub.html.

ViaSat Company Profile

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)

Receive News & Ratings for ViaSat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ViaSat and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply