ViaSat, Inc. (VSAT) Receives Average Rating of “Hold” from Analysts
ViaSat, Inc. (NASDAQ:VSAT) has been given an average rating of “Hold” by the seventeen research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $73.90.
Several equities analysts have weighed in on VSAT shares. B. Riley set a $89.00 price objective on shares of ViaSat and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Barclays PLC restated an “equal weight” rating and issued a $80.00 target price (down previously from $82.00) on shares of ViaSat in a report on Monday, July 10th. Royal Bank Of Canada set a $50.00 target price on ViaSat and gave the company a “sell” rating in a report on Tuesday, August 15th. Zacks Investment Research cut ViaSat from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Jefferies Group LLC set a $67.00 target price on ViaSat and gave the stock a “hold” rating in a research report on Sunday, September 10th.
In other ViaSat news, COO Richard A. Baldridge sold 35,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $59.92, for a total value of $2,097,200.00. Following the transaction, the chief operating officer now directly owns 59,000 shares of the company’s stock, valued at approximately $3,535,280. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.42, for a total value of $45,094.00. Following the sale, the director now directly owns 10,300 shares of the company’s stock, valued at $663,526. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,350 shares of company stock valued at $11,128,257. Insiders own 7.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in ViaSat by 10.9% in the first quarter. Geode Capital Management LLC now owns 437,084 shares of the communications equipment provider’s stock worth $27,894,000 after buying an additional 42,961 shares during the last quarter. Legal & General Group Plc raised its position in ViaSat by 26.6% during the first quarter. Legal & General Group Plc now owns 35,347 shares of the communications equipment provider’s stock valued at $2,254,000 after acquiring an additional 7,428 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in ViaSat by 25.8% during the first quarter. UBS Asset Management Americas Inc. now owns 28,696 shares of the communications equipment provider’s stock valued at $1,831,000 after acquiring an additional 5,878 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in ViaSat by 123.0% during the second quarter. BNP Paribas Arbitrage SA now owns 26,641 shares of the communications equipment provider’s stock valued at $1,764,000 after acquiring an additional 14,694 shares in the last quarter. Finally, Comerica Bank raised its position in ViaSat by 27.5% during the second quarter. Comerica Bank now owns 52,615 shares of the communications equipment provider’s stock valued at $3,471,000 after acquiring an additional 11,334 shares in the last quarter. 99.42% of the stock is owned by institutional investors and hedge funds.
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ViaSat (NASDAQ VSAT) opened at 67.22 on Wednesday. The stock has a market capitalization of $3.90 billion, a P/E ratio of 291.00 and a beta of 0.71. The company’s 50-day moving average price is $61.99 and its 200 day moving average price is $64.46. ViaSat has a 52-week low of $57.75 and a 52-week high of $82.19.
ViaSat (NASDAQ:VSAT) last issued its quarterly earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). ViaSat had a net margin of 0.82% and a return on equity of 1.21%. The firm had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $384.29 million. During the same quarter last year, the company posted $0.23 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that ViaSat will post $0.05 earnings per share for the current year.
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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