EchoStar (SATS) Given a $70.00 Price Target at Jefferies Group
EchoStar (NASDAQ:SATS) received a $70.00 target price from investment analysts at Jefferies Group in a report issued on Friday. The firm presently has a “hold” rating on the communications equipment provider’s stock. Jefferies Group’s price target suggests a potential upside of 16.96% from the company’s current price.
Several other research analysts have also commented on SATS. TheStreet lowered EchoStar from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Zacks Investment Research upgraded EchoStar from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $68.33.
EchoStar (SATS) opened at $59.85 on Friday. The firm has a market capitalization of $5,805.78, a P/E ratio of 51.84, a P/E/G ratio of 2.99 and a beta of 0.76. EchoStar has a 52-week low of $49.82 and a 52-week high of $62.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 8.61 and a quick ratio of 8.40.
Large investors have recently added to or reduced their stakes in the stock. Thornburg Investment Management Inc. raised its stake in EchoStar by 21.0% in the third quarter. Thornburg Investment Management Inc. now owns 2,024,396 shares of the communications equipment provider’s stock valued at $115,856,000 after buying an additional 350,961 shares in the last quarter. Vanguard Group Inc. increased its position in shares of EchoStar by 11.1% during the second quarter. Vanguard Group Inc. now owns 3,001,260 shares of the communications equipment provider’s stock worth $182,177,000 after purchasing an additional 299,543 shares in the last quarter. First Trust Advisors LP increased its position in EchoStar by 376.4% in the 2nd quarter. First Trust Advisors LP now owns 241,039 shares of the communications equipment provider’s stock valued at $14,631,000 after acquiring an additional 190,448 shares during the period. Renaissance Technologies LLC increased its position in EchoStar by 4.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,861,780 shares of the communications equipment provider’s stock valued at $173,710,000 after acquiring an additional 113,700 shares during the period. Finally, Gotham Asset Management LLC purchased a new stake in shares of EchoStar during the 2nd quarter worth approximately $5,285,000. Hedge funds and other institutional investors own 44.50% of the company’s stock.
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EchoStar Company Profile
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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