ViaSat’s (VSAT) Buy Rating Reiterated at B. Riley
ViaSat, Inc. (NASDAQ:VSAT)‘s stock had its “buy” rating reiterated by investment analysts at B. Riley in a research note issued to investors on Monday. They currently have a $89.00 target price on the communications equipment provider’s stock. B. Riley’s price target would suggest a potential upside of 33.47% from the stock’s previous close.
Several other equities analysts also recently weighed in on the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $80.00 target price (down from $82.00) on shares of ViaSat in a research report on Monday, July 10th. BidaskClub downgraded ViaSat from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Cowen and Company raised ViaSat from a “market perform” rating to an “outperform” rating in a research report on Saturday, June 3rd. Wunderlich raised ViaSat from a “sell” rating to a “hold” rating and set a $58.00 target price for the company in a research report on Friday, June 2nd. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $74.00 target price on shares of ViaSat in a research report on Wednesday, May 31st. Four analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. ViaSat currently has a consensus rating of “Hold” and a consensus target price of $76.45.
ViaSat (VSAT) traded up 0.79% during mid-day trading on Monday, reaching $66.68. 370,337 shares of the company were exchanged. The stock’s 50-day moving average price is $66.08 and its 200-day moving average price is $65.64. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 148.18 and a beta of 0.68. ViaSat has a 1-year low of $61.85 and a 1-year high of $82.19.
ViaSat (NASDAQ:VSAT) last released its earnings results on Tuesday, May 23rd. The communications equipment provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $416.40 million during the quarter, compared to the consensus estimate of $400.90 million. ViaSat had a return on equity of 2.07% and a net margin of 1.52%. ViaSat’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. On average, equities research analysts anticipate that ViaSat will post $0.34 EPS for the current fiscal year.
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In other 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 owns 8,700 shares in the company, valued at approximately $563,586. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey M. Nash sold 5,000 shares of ViaSat stock in a transaction dated Wednesday, June 7th. The shares were 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 approximately $358,800. The disclosure for this sale can be found here. Insiders sold a total of 26,400 shares of company stock valued at $1,771,886 in the last quarter. Company insiders own 7.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. Three Peaks Capital Management boosted its stake in ViaSat by 19.7% in the fourth quarter. Three Peaks Capital Management now owns 85,804 shares of the communications equipment provider’s stock valued at $5,235,000 after buying an additional 14,131 shares during the last quarter. California State Teachers Retirement System boosted its stake in ViaSat by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 79,115 shares of the communications equipment provider’s stock valued at $4,827,000 after buying an additional 1,200 shares during the last quarter. Swiss National Bank boosted its stake in ViaSat by 3.7% in the fourth quarter. Swiss National Bank now owns 60,124 shares of the communications equipment provider’s stock valued at $3,668,000 after buying an additional 2,124 shares during the last quarter. Sei Investments Co. acquired a new stake in ViaSat during the fourth quarter valued at $11,232,000. Finally, First Trust Advisors LP acquired a new stake in ViaSat during the fourth quarter valued at $1,658,000. Hedge funds and other institutional investors own 94.17% 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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