Echostar CORP (NASDAQ:ECHO) Stock Has Consensus Target Price of $137.88 According to Brokerages

Echostar CORP (NASDAQ:ECHO) has earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $137.88.

Several research analysts have recently weighed in on ECHO shares. Morgan Stanley reiterated an “overweight” rating and set a $134.00 price target on shares of Echostar in a research note on Monday, September 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 target price on shares of Echostar in a report on Wednesday, July 15th. Citigroup lowered their target price on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. TD Cowen cut their price target on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research report on Friday, July 17th.

Insider Buying and Selling

In related news, Director William Wade sold 2,575 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total value of $238,573.75. Following the completion of the sale, the director directly owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. This represents a 48.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen Bye sold 8,508 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $89.83, for a total transaction of $764,273.64. Following the completion of the sale, the director directly owned 653 shares of the company’s stock, valued at $58,658.99. This represents a 92.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 13,508 shares of company stock valued at $1,224,686. 54.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in shares of Echostar by 4.1% in the first quarter. Parallel Advisors LLC now owns 2,089 shares of the company’s stock worth $245,000 after buying an additional 83 shares during the period. Diversified Trust Co boosted its holdings in Echostar by 0.4% during the 1st quarter. Diversified Trust Co now owns 22,845 shares of the company’s stock valued at $2,674,000 after acquiring an additional 84 shares during the period. Strs Ohio boosted its holdings in Echostar by 0.5% during the 1st quarter. Strs Ohio now owns 19,100 shares of the company’s stock valued at $2,236,000 after acquiring an additional 100 shares during the period. Venture Visionary Partners LLC grew its position in Echostar by 1.1% in the 3rd quarter. Venture Visionary Partners LLC now owns 11,836 shares of the company’s stock valued at $1,058,000 after acquiring an additional 123 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after acquiring an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Echostar Stock Performance

Shares of NASDAQ:ECHO opened at $94.84 on Wednesday. The stock has a 50-day moving average price of $90.70. The stock has a market capitalization of $27.55 billion, a PE ratio of -3.81 and a beta of 0.99. Echostar has a 52-week low of $65.76 and a 52-week high of $147.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The business had revenue of $3.67 billion during the quarter. As a group, equities analysts forecast that Echostar will post -1.35 earnings per share for the current fiscal year.

About Echostar

EchoStar Corporation is a communications and technology company that provides connectivity services through wireless, satellite, and broadband networks. Its businesses include Boost Mobile, a wireless service provider offering mobile voice, data, and broadband services, as well as satellite communications and related connectivity solutions for consumers, businesses, and government customers.

The company also operates through Hughes, which provides satellite internet, managed network services, and other broadband solutions, particularly for customers in areas with limited access to terrestrial communications infrastructure.