Inmarsat (LON:ISAT) had its price objective decreased by stock analysts at Citigroup from GBX 530 ($7.44) to GBX 430 ($6.04) in a research report issued on Thursday, March 15th. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 20.82% from the company’s current price.
Other analysts have also issued reports about the stock. Deutsche Bank lowered their target price on shares of Inmarsat from GBX 850 ($11.93) to GBX 575 ($8.07) and set a “buy” rating for the company in a research note on Monday, March 12th. Credit Suisse Group lowered their price objective on shares of Inmarsat from GBX 890 ($12.49) to GBX 810 ($11.37) and set an “outperform” rating for the company in a research note on Thursday, November 16th. Berenberg Bank lowered their price objective on shares of Inmarsat from GBX 640 ($8.98) to GBX 600 ($8.42) and set a “hold” rating for the company in a research note on Wednesday, November 15th. Royal Bank of Canada lowered their price objective on shares of Inmarsat from GBX 825 ($11.58) to GBX 725 ($10.18) and set an “outperform” rating for the company in a research note on Wednesday, March 14th. Finally, Barclays reaffirmed an “equal weight” rating and issued a GBX 570 ($8.00) price objective on shares of Inmarsat in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Inmarsat currently has an average rating of “Hold” and a consensus target price of GBX 580.28 ($8.15).
Shares of ISAT traded up GBX 15.50 ($0.22) during trading hours on Thursday, reaching GBX 355.90 ($5.00). 2,031,286 shares of the company traded hands, compared to its average volume of 2,850,000. Inmarsat has a 12-month low of GBX 381.20 ($5.35) and a 12-month high of GBX 865 ($12.14).
In other news, insider Tony Bates sold 13,684 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of GBX 349 ($4.90), for a total transaction of £47,757.16 ($67,037.00).
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Inmarsat plc is a United Kingdom-based provider of global mobile satellite communications services. The Company’s segments include Maritime, Government, Enterprise, Aviation and Central Services. The Maritime segment focuses on commercial maritime services across the world. The Maritime segment includes the provision of broadband data and safety communications for all vessel sizes.
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