ViaSat (VSAT) Stock Rating Upgraded by ValuEngine

ViaSat (NASDAQ:VSAT) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

VSAT has been the subject of a number of other reports. BidaskClub raised ViaSat from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Wells Fargo & Co cut their price target on ViaSat to $84.00 and set an “outperform” rating for the company in a report on Friday, May 25th. Needham & Company LLC reissued a “buy” rating and issued a $74.00 price target (down from $78.00) on shares of ViaSat in a report on Monday, April 9th. Royal Bank of Canada set a $52.00 price target on ViaSat and gave the stock a “sell” rating in a report on Tuesday, March 27th. Finally, William Blair reissued a “buy” rating on shares of ViaSat in a report on Saturday, June 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.56.

VSAT traded up $1.71 during trading on Friday, reaching $68.49. 375,500 shares of the stock were exchanged, compared to its average volume of 419,371. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.31. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -79.64 and a beta of 0.77. ViaSat has a 1 year low of $57.75 and a 1 year high of $80.26.

ViaSat (NASDAQ:VSAT) last posted its earnings results on Thursday, May 24th. The communications equipment provider reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.40. The company had revenue of $439.70 million for the quarter, compared to the consensus estimate of $424.47 million. ViaSat had a negative return on equity of 2.56% and a negative net margin of 4.22%. ViaSat’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share.

In related news, insider Toro Melinda Michele Del sold 6,277 shares of the company’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $64.03, for a total value of $401,916.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $65.21, for a total value of $45,647.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,594 shares of company stock valued at $1,690,101. Insiders own 7.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC increased its stake in ViaSat by 3.1% in the first quarter. Mason Street Advisors LLC now owns 27,506 shares of the communications equipment provider’s stock valued at $1,808,000 after purchasing an additional 823 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in ViaSat by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 27,395 shares of the communications equipment provider’s stock valued at $1,800,000 after purchasing an additional 852 shares during the last quarter. Profund Advisors LLC increased its stake in ViaSat by 12.3% in the first quarter. Profund Advisors LLC now owns 8,746 shares of the communications equipment provider’s stock valued at $575,000 after purchasing an additional 955 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in ViaSat by 0.9% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 111,481 shares of the communications equipment provider’s stock valued at $7,326,000 after purchasing an additional 1,006 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in ViaSat by 0.8% in the first quarter. Wells Fargo & Company MN now owns 139,800 shares of the communications equipment provider’s stock valued at $9,187,000 after purchasing an additional 1,166 shares during the last quarter.

ViaSat Company Profile

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers fixed broadband services, including broadband Internet access and voice over Internet protocol services under the Exede and WildBlue brands to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems; and enterprise broadband services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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