ViaSat (NASDAQ:VSAT) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.
Other equities research analysts have also issued reports about the stock. B. Riley upped their price target on shares of ViaSat from $89.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 26th. Raymond James lowered shares of ViaSat from an “outperform” rating to a “market perform” rating and set a $90.92 price target for the company. in a report on Thursday, May 30th. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating and set a $105.00 price target (up from $74.00) on shares of ViaSat in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of ViaSat from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Monday, May 13th. Finally, Needham & Company LLC upped their price target on shares of ViaSat from $78.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. ViaSat currently has an average rating of “Buy” and an average price target of $96.99.
Shares of VSAT opened at $83.53 on Friday. The company has a market capitalization of $5.06 billion, a PE ratio of -73.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.83 and a quick ratio of 1.34. ViaSat has a fifty-two week low of $55.93 and a fifty-two week high of $97.31.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 23rd. The communications equipment provider reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.29. ViaSat had a negative net margin of 3.27% and a negative return on equity of 3.47%. The company had revenue of $557.20 million during the quarter, compared to analyst estimates of $538.73 million. During the same period in the prior year, the business posted ($0.34) EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. Equities research analysts expect that ViaSat will post -0.1 earnings per share for the current year.
In other ViaSat news, insider Toro Melinda Michele Del sold 6,250 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $90.14, for a total transaction of $563,375.00. Following the transaction, the insider now directly owns 9,306 shares of the company’s stock, valued at approximately $838,842.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bruce Leroy Dirks sold 16,500 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $91.87, for a total transaction of $1,515,855.00. Following the transaction, the insider now directly owns 34,522 shares in the company, valued at $3,171,536.14. The disclosure for this sale can be found here. Insiders have sold a total of 470,903 shares of company stock valued at $41,735,777 over the last quarter. 8.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its position in ViaSat by 88.0% during the 1st quarter. FMR LLC now owns 119,229 shares of the communications equipment provider’s stock valued at $9,240,000 after purchasing an additional 55,804 shares during the last quarter. Cerebellum GP LLC bought a new position in ViaSat during the 1st quarter valued at about $90,000. Granite Investment Partners LLC bought a new position in ViaSat during the 1st quarter valued at about $934,000. Swift Run Capital Management LLC bought a new position in ViaSat during the 1st quarter valued at about $212,000. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new position in ViaSat during the 1st quarter valued at about $660,000. 96.49% of the stock is currently owned by institutional investors and hedge funds.
Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband Internet access and voice over Internet protocol services to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
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