ViaSat, Inc. (VSAT) Price Target Cut to $48.00 by Analysts at Royal Bank Of Canada
ViaSat, Inc. (NASDAQ:VSAT) had its target price lowered by Royal Bank Of Canada from $50.00 to $48.00 in a research report released on Thursday morning, MarketBeat reports. The firm currently has an underperform rating on the communications equipment provider’s stock.
VSAT has been the subject of several other research reports. B. Riley reiterated a buy rating and issued a $89.00 price target on shares of ViaSat in a research report on Monday, August 7th. BidaskClub downgraded shares of ViaSat from a sell rating to a strong sell rating in a research report on Wednesday, June 21st. TheStreet downgraded shares of ViaSat from a b- rating to a c rating in a research report on Wednesday, August 9th. Jefferies Group LLC set a $67.00 price target on shares of ViaSat and gave the company a hold rating in a research report on Sunday, September 10th. Finally, Zacks Investment Research downgraded shares of ViaSat from a hold rating to a sell rating in a research report on Friday, August 11th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $73.70.
Shares of ViaSat (NASDAQ VSAT) opened at 65.01 on Thursday. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 281.43 and a beta of 0.71. The stock has a 50 day moving average of $62.37 and a 200-day moving average of $64.48. ViaSat has a 1-year low of $57.75 and a 1-year high of $82.19.
ViaSat (NASDAQ:VSAT) last released its quarterly earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). ViaSat had a net margin of 0.82% and a return on equity of 1.21%. The business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $384.29 million. During the same quarter last year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts anticipate that ViaSat will post $0.05 EPS for the current fiscal year.
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In other ViaSat news, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $66.20, for a total transaction of $46,340.00. Following the completion of the transaction, the director now owns 8,700 shares in the company, valued at approximately $575,940. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark D. Dankberg sold 28,500 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $60.12, for a total transaction of $1,713,420.00. Following the transaction, the chief executive officer now owns 28,500 shares of the company’s stock, valued at approximately $1,713,420. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,350 shares of company stock valued at $11,128,257. 7.70% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its stake in shares of ViaSat by 18.1% during the 1st quarter. Wells Fargo & Company MN now owns 59,046 shares of the communications equipment provider’s stock worth $3,768,000 after purchasing an additional 9,051 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of ViaSat by 1.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 23,780 shares of the communications equipment provider’s stock worth $1,518,000 after purchasing an additional 250 shares during the period. World Asset Management Inc acquired a new position in shares of ViaSat during the 1st quarter worth $206,000. UBS Asset Management Americas Inc. grew its stake in shares of ViaSat by 25.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 28,696 shares of the communications equipment provider’s stock worth $1,831,000 after purchasing an additional 5,878 shares during the period. Finally, Karp Capital Management Corp acquired a new position in shares of ViaSat during the 1st quarter worth $252,000. Institutional investors own 99.42% of the company’s stock.
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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