DISH Network (NASDAQ:DISH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $36.00 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 12.15% from the stock’s previous close.

According to Zacks, “DISH is hurt by subscriber loss in the Pay-TV business, primarily due to stiff competition and cord-cutting. Moreover, Sling TV subscriber base is increasing, but at a much slower rate. These factors negatively impacted top-line growth. Churn rate also increased in the third-quarter due to unavailability of Univision’s certain channels. Additionally, escalating programming and content expenses, retransmission fees and failure to strike any deal with wireless operators are major concerns. Nevertheless, DISH’s efforts to diversify its business from being a pure-play satellite-TV operator to an Internet TV operator is expected to help it counter competitive threats from low-cost video streaming operators. Moreover, DISH’s focus on acquiring and retaining subscribers that are profitable over the long term, is paying off.”

A number of other equities research analysts have also recently commented on the stock. Moffett Nathanson cut shares of DISH Network from a “neutral” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research note on Monday, August 13th. Macquarie cut shares of DISH Network from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $36.00 to $31.00 in a research note on Tuesday, October 23rd. Morgan Stanley raised their price objective on shares of DISH Network from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, September 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $50.00 price objective on shares of DISH Network in a research note on Monday, August 6th. Finally, Guggenheim raised shares of DISH Network from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $32.00 to $50.00 in a research note on Wednesday, October 24th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. DISH Network currently has an average rating of “Hold” and an average price target of $39.77.

DISH opened at $32.10 on Tuesday. DISH Network has a 12-month low of $27.54 and a 12-month high of $52.53. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 1.67. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 12.64 and a beta of 1.25.

DISH Network (NASDAQ:DISH) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.15. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.40 billion. DISH Network had a net margin of 19.01% and a return on equity of 20.26%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. Analysts expect that DISH Network will post 2.84 EPS for the current year.

In related news, insider James Defranco purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The shares were purchased at an average price of $34.99 per share, with a total value of $174,950.00. Following the purchase, the insider now owns 1,203,529 shares of the company’s stock, valued at $42,111,479.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 115,000 shares of company stock worth $3,688,150 in the last three months. 49.20% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Signet Financial Management LLC lifted its holdings in DISH Network by 188,000.0% in the 2nd quarter. Signet Financial Management LLC now owns 3,762 shares of the company’s stock valued at $126,000 after purchasing an additional 3,760 shares in the last quarter. Dupont Capital Management Corp purchased a new position in DISH Network in the 3rd quarter valued at $130,000. Cadence Capital Management LLC purchased a new position in DISH Network in the 3rd quarter valued at $216,000. Tower Research Capital LLC TRC lifted its holdings in DISH Network by 293.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,618 shares of the company’s stock valued at $222,000 after purchasing an additional 4,936 shares in the last quarter. Finally, Insight 2811 Inc. purchased a new position in DISH Network in the 2nd quarter valued at $233,000. 48.17% of the stock is currently owned by hedge funds and other institutional investors.

About DISH Network

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.

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