ViaSat’s (NASDAQ:VSAT) Equal Weight Rating Reiterated at Barclays PLC
ViaSat, Inc. (NASDAQ:VSAT)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays PLC in a research note issued to investors on Monday. They currently have a $80.00 target price on the communications equipment provider’s stock, down from their previous target price of $82.00. Barclays PLC’s price objective would indicate a potential upside of 24.86% from the company’s previous close.
Several other research firms have also recently issued reports on VSAT. J P Morgan Chase & Co assumed coverage on ViaSat in a report on Tuesday, April 4th. They set a “neutral” rating and a $74.00 price objective on the stock. B. Riley set a $89.00 price objective on ViaSat and gave the stock a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research cut ViaSat from a “hold” rating to a “sell” rating in a report on Friday, May 26th. Cowen and Company raised ViaSat from a “market perform” rating to an “outperform” rating in a research report on Saturday, June 3rd. Finally, TheStreet raised ViaSat from a “c” rating to a “b-” rating in a research report on Tuesday, May 23rd. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $76.90.
ViaSat (NASDAQ VSAT) traded down 0.76% during trading on Monday, reaching $63.58. The company’s stock had a trading volume of 27,321 shares. ViaSat has a 52 week low of $61.85 and a 52 week high of $82.19. The company has a 50 day moving average price of $67.23 and a 200-day moving average price of $65.94. The company has a market capitalization of $3.66 billion, a PE ratio of 141.29 and a beta of 0.69.
ViaSat (NASDAQ:VSAT) last announced its earnings results on Tuesday, May 23rd. The communications equipment provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $416.40 million for the quarter, compared to analysts’ expectations of $400.90 million. ViaSat had a return on equity of 2.07% and a net margin of 1.52%. ViaSat’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities research analysts anticipate that ViaSat will post $0.33 earnings per share for the current year.
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In related news, Director John P. Stenbit sold 700 shares of ViaSat stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.78, for a total value of $45,346.00. Following the completion of the transaction, the director now directly owns 8,700 shares in the company, valued at $563,586. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey M. Nash sold 5,000 shares of ViaSat stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $71.76, for a total value of $358,800.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $358,800. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in ViaSat by 24,650.6% in the first quarter. BlackRock Inc. now owns 5,393,642 shares of the communications equipment provider’s stock worth $344,224,000 after buying an additional 5,371,850 shares during the period. Norges Bank purchased a new position in ViaSat during the fourth quarter worth approximately $44,042,000. Clough Capital Partners L P increased its position in ViaSat by 91.6% in the first quarter. Clough Capital Partners L P now owns 1,113,881 shares of the communications equipment provider’s stock worth $72,483,000 after buying an additional 532,501 shares during the period. Vanguard Group Inc. increased its position in ViaSat by 7.2% in the first quarter. Vanguard Group Inc. now owns 4,428,969 shares of the communications equipment provider’s stock worth $282,657,000 after buying an additional 296,857 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in ViaSat by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 413,638 shares of the communications equipment provider’s stock worth $26,399,000 after buying an additional 103,678 shares during the period. Institutional investors and hedge funds own 95.18% 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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