Raymond James upgraded shares of ViaSat (NASDAQ:VSAT) from a market perform rating to an outperform rating in a research note issued to investors on Friday, August 9th, BenzingaRatingsTable reports. Raymond James currently has $88.00 target price on the communications equipment provider’s stock.
VSAT has been the subject of several other reports. ValuEngine cut shares of ViaSat from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of 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. BidaskClub cut shares of ViaSat from a buy rating to a hold rating in a report on Saturday, August 3rd. Needham & Company LLC lifted their target price on shares of ViaSat from $78.00 to $100.00 and gave the stock a buy rating in a report on Friday, May 24th. Finally, Bank of America reaffirmed a buy rating and issued a $105.00 target price (up from $74.00) on shares of ViaSat in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. ViaSat has a consensus rating of Hold and a consensus target price of $94.71.
NASDAQ:VSAT opened at $76.90 on Friday. The company has a 50-day moving average price of $81.33 and a 200-day moving average price of $81.96. ViaSat has a 12 month low of $55.93 and a 12 month high of $97.31. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -68.05 and a beta of 0.86.
ViaSat (NASDAQ:VSAT) last posted its earnings results on Thursday, August 8th. The communications equipment provider reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.10. The firm had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $506.02 million. ViaSat had a negative net margin of 2.08% and a negative return on equity of 2.26%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company posted ($0.30) EPS. Equities analysts forecast that ViaSat will post -0.15 EPS for the current fiscal year.
In related news, Director B Allen Lay sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $87.13, for a total transaction of $87,130.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Stenbit sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $79.08, for a total transaction of $98,850.00. Following the sale, the director now owns 2,850 shares of the company’s stock, valued at $225,378. The disclosure for this sale can be found here. Insiders sold 443,278 shares of company stock valued at $39,645,089 over the last quarter. Company insiders own 7.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of ViaSat by 0.9% in the first quarter. BlackRock Inc. now owns 6,670,017 shares of the communications equipment provider’s stock worth $516,927,000 after purchasing an additional 57,296 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ViaSat by 11.4% in the fourth quarter. Geode Capital Management LLC now owns 649,189 shares of the communications equipment provider’s stock worth $38,269,000 after buying an additional 66,470 shares in the last quarter. Norges Bank purchased a new position in shares of ViaSat in the fourth quarter worth $30,846,000. Renaissance Technologies LLC lifted its holdings in shares of ViaSat by 479.6% in the second quarter. Renaissance Technologies LLC now owns 428,293 shares of the communications equipment provider’s stock worth $34,615,000 after buying an additional 354,400 shares in the last quarter. Finally, Ashford Capital Management Inc. lifted its holdings in shares of ViaSat by 2.2% in the second quarter. Ashford Capital Management Inc. now owns 372,737 shares of the communications equipment provider’s stock worth $30,125,000 after buying an additional 8,160 shares in the last quarter. Institutional investors own 95.20% of the company’s stock.
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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