ViaSat Inc. (VSAT) Rating Lowered to Underperform at Macquarie
ViaSat Inc. (NASDAQ:VSAT) was downgraded by equities research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday.
VSAT has been the topic of a number of other research reports. Zacks Investment Research cut shares of ViaSat from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Wunderlich boosted their price objective on shares of ViaSat from $50.00 to $58.00 and gave the company a “sell” rating in a research report on Wednesday, November 9th. B. Riley restated a “buy” rating and issued a $89.00 price objective on shares of ViaSat in a research report on Sunday, August 14th. TheStreet upgraded shares of ViaSat from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of ViaSat in a research report on Wednesday, October 5th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. ViaSat has an average rating of “Hold” and a consensus target price of $75.40.
ViaSat (NASDAQ:VSAT) opened at 69.74 on Wednesday. ViaSat has a 12 month low of $56.02 and a 12 month high of $82.19. The company has a market cap of $3.45 billion, a PE ratio of 127.03 and a beta of 0.67. The company has a 50-day moving average of $73.12 and a 200 day moving average of $73.22.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.13. The business earned $399.20 million during the quarter, compared to the consensus estimate of $378.83 million. ViaSat had a net margin of 1.83% and a return on equity of 2.91%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities analysts forecast that ViaSat will post $1.29 earnings per share for the current fiscal year.
In related news, CEO Mark D. Dankberg sold 26,250 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $74.84, for a total transaction of $1,964,550.00. Following the sale, the chief executive officer now owns 26,250 shares of the company’s stock, valued at $1,964,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Stenbit sold 800 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $75.12, for a total transaction of $60,096.00. Following the sale, the director now directly owns 7,200 shares in the company, valued at approximately $540,864. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.
A number of large investors have recently bought and sold shares of VSAT. PNC Financial Services Group Inc. raised its stake in ViaSat by 41.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,405 shares of the company’s stock valued at $105,000 after buying an additional 414 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ViaSat by 12.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,606 shares of the company’s stock valued at $120,000 after buying an additional 184 shares during the last quarter. LS Investment Advisors LLC raised its stake in ViaSat by 71.0% in the second quarter. LS Investment Advisors LLC now owns 2,723 shares of the company’s stock valued at $194,000 after buying an additional 1,131 shares during the last quarter. CHICAGO TRUST Co NA acquired a new stake in ViaSat during the second quarter valued at approximately $202,000. Finally, B. Riley Financial Inc. acquired a new stake in ViaSat during the second quarter valued at approximately $203,000. 94.81% of the stock is currently owned by institutional investors and hedge funds.
ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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