ViaSat, Inc. (VSAT) Price Target Lowered to $48.00 at Royal Bank Of Canada
ViaSat, Inc. (NASDAQ:VSAT) had its target price dropped by analysts at Royal Bank Of Canada from $50.00 to $48.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “underperform” rating on the communications equipment provider’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 27.03% from the company’s current price.
Other equities analysts have also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and set a $89.00 price target on shares of ViaSat in a research note on Sunday, August 13th. TheStreet cut shares of ViaSat from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Barclays PLC reaffirmed an “equal weight” rating and set a $80.00 price target (down from $82.00) on shares of ViaSat in a research note on Monday, July 10th. Jefferies Group LLC set a $67.00 target price on shares of ViaSat and gave the company a “hold” rating in a research note on Sunday, September 10th. Finally, Zacks Investment Research cut shares of ViaSat from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. ViaSat currently has an average rating of “Hold” and an average price target of $73.70.
Shares of ViaSat (VSAT) opened at 65.78 on Thursday. The stock has a 50 day moving average of $62.10 and a 200-day moving average of $64.47. The firm has a market capitalization of $3.82 billion, a PE ratio of 284.76 and a beta of 0.71. 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 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $380.00 million for the quarter, compared to the consensus estimate of $384.29 million. ViaSat had a return on equity of 1.21% and a net margin of 0.82%. ViaSat’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Equities analysts anticipate that ViaSat will post $0.05 earnings per share for the current fiscal year.
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In other ViaSat news, Director John P. Stenbit sold 700 shares of ViaSat stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $66.20, for a total transaction of $46,340.00. Following the completion of the transaction, the director now directly owns 8,700 shares of the company’s stock, valued at $575,940. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin J. Harkenrider sold 20,000 shares of ViaSat stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $66.07, for a total transaction of $1,321,400.00. Following the transaction, the insider now directly owns 24,004 shares of the company’s stock, valued at $1,585,944.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,350 shares of company stock valued at $11,128,257. Company insiders own 7.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in shares of ViaSat during the first quarter worth $105,000. PNC Financial Services Group Inc. lifted its holdings in shares of ViaSat by 9.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,582 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 131 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ViaSat by 13.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 216 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of ViaSat during the second quarter worth $203,000. Finally, World Asset Management Inc acquired a new stake in shares of ViaSat during the first quarter worth $206,000. 99.42% of the stock is owned by hedge funds and other institutional investors.
ViaSat Company Profile
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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