BidaskClub lowered shares of ViaSat (NASDAQ:VSAT) from a buy rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.
Other equities research analysts also recently issued research reports about the company. Needham & Company LLC lifted their target price on ViaSat from $78.00 to $100.00 and gave the stock a buy rating in a report on Friday, May 24th. ValuEngine downgraded ViaSat from a strong-buy rating to a buy rating in a report on Thursday. B. Riley lifted their target price on ViaSat from $89.00 to $145.00 and gave the stock a buy rating in a report on Friday, April 26th. Raymond James downgraded ViaSat from an outperform rating to a market perform rating and set a $90.92 target price for the company. in a report on Thursday, May 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded ViaSat from a buy rating to a hold rating and set a $88.00 target price for the company. in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $95.13.
VSAT stock traded down $1.41 during midday trading on Friday, reaching $78.78. 388,613 shares of the company were exchanged, compared to its average volume of 343,246. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.83 and a quick ratio of 1.34. The stock’s 50-day simple moving average is $83.29. ViaSat has a one year low of $55.93 and a one year high of $97.31. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -69.72 and a beta of 0.86.
ViaSat (NASDAQ:VSAT) last posted its earnings results on Thursday, May 23rd. The communications equipment provider reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.29. ViaSat had a negative return on equity of 3.47% and a negative net margin of 3.27%. The company had revenue of $557.20 million during the quarter, compared to the consensus estimate of $538.73 million. During the same quarter last year, the firm earned ($0.34) earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. On average, research analysts expect that ViaSat will post -0.21 EPS for the current year.
In related news, insider Bruce Leroy Dirks sold 16,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $91.87, for a total value of $1,515,855.00. Following the completion of the transaction, the insider now owns 34,522 shares of the company’s stock, valued at $3,171,536.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director B Allen Lay sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $81,340.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 442,028 shares of company stock valued at $39,546,239. 7.60% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC raised its stake in ViaSat by 1,626.0% in the second quarter. Advisory Services Network LLC now owns 1,726 shares of the communications equipment provider’s stock valued at $139,000 after purchasing an additional 1,626 shares in the last quarter. Coastal Investment Advisors Inc. raised its stake in ViaSat by 170.6% in the second quarter. Coastal Investment Advisors Inc. now owns 2,300 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 1,450 shares in the last quarter. Stevens Capital Management LP acquired a new position in ViaSat in the second quarter valued at about $579,000. Advisor Group Inc. raised its stake in ViaSat by 381.6% in the second quarter. Advisor Group Inc. now owns 2,885 shares of the communications equipment provider’s stock valued at $233,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in ViaSat in the second quarter valued at about $2,020,000. 95.17% of the stock is owned by institutional investors and hedge funds.
ViaSat Company Profile
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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