ViaSat, Inc. (VSAT) Given “Buy” Rating at B. Riley
B. Riley reaffirmed their buy rating on shares of ViaSat, Inc. (NASDAQ:VSAT) in a research note published on Thursday. The firm currently has a $89.00 price target on the communications equipment provider’s stock.
Other equities analysts also recently issued research reports about the stock. TheStreet downgraded shares of ViaSat from a b- rating to a c rating in a research report on Wednesday, August 9th. Royal Bank Of Canada set a $50.00 price objective on shares of ViaSat and gave the stock a sell rating in a research report on Tuesday, August 15th. Zacks Investment Research upgraded shares of ViaSat from a sell rating to a hold rating in a research report on Wednesday, October 25th. Finally, Jefferies Group LLC set a $67.00 price objective on shares of ViaSat and gave the stock a hold rating in a research report on Sunday, September 10th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $74.09.
Shares of ViaSat (VSAT) traded up $3.50 during trading on Thursday, reaching $68.40. 946,448 shares of the company’s stock were exchanged, compared to its average volume of 440,552. The stock has a market cap of $3,960.00, a P/E ratio of 1,290.60 and a beta of 0.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.44 and a current ratio of 2.02. ViaSat has a 52 week low of $57.75 and a 52 week high of $82.19.
ViaSat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The company had revenue of $393.10 million during the quarter, compared to the consensus estimate of $401.83 million. ViaSat had a negative net margin of 0.75% and a positive return on equity of 0.13%. ViaSat’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. equities analysts anticipate that ViaSat will post -1.05 EPS for the current year.
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In related news, Director John P. Stenbit sold 700 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $63.70, for a total value of $44,590.00. Following the sale, the director now directly owns 8,700 shares of the company’s stock, valued at approximately $554,190. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark D. Dankberg sold 28,500 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $66.00, for a total transaction of $1,881,000.00. Following the completion of the sale, the chief executive officer now directly owns 28,500 shares in the company, valued at $1,881,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,350 shares of company stock worth $7,838,977. 7.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc grew its stake in ViaSat by 26.6% in the 1st quarter. Legal & General Group Plc now owns 35,347 shares of the communications equipment provider’s stock valued at $2,254,000 after acquiring an additional 7,428 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in ViaSat by 123.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,641 shares of the communications equipment provider’s stock valued at $1,764,000 after acquiring an additional 14,694 shares during the last quarter. JPMorgan Chase & Co. grew its stake in ViaSat by 1,936.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,135 shares of the communications equipment provider’s stock valued at $803,000 after acquiring an additional 11,539 shares during the last quarter. Fiduciary Management Inc. WI acquired a new stake in ViaSat in the 2nd quarter valued at about $28,948,000. Finally, Comerica Bank grew its stake in ViaSat by 27.5% in the 2nd quarter. Comerica Bank now owns 52,615 shares of the communications equipment provider’s stock valued at $3,471,000 after acquiring an additional 11,334 shares during the last quarter. 99.57% of the stock is currently owned by hedge funds and other institutional investors.
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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