ViaSat (NASDAQ:VSAT) Stock Rating Reaffirmed by Bank of America

Bank of America reissued their buy rating on shares of ViaSat (NASDAQ:VSAT) in a report published on Monday, June 3rd, Briefing.com Automated Import reports. They currently have a $105.00 target price on the communications equipment provider’s stock, up from their prior target price of $74.00.

Several other analysts have also recently issued reports on VSAT. Needham & Company LLC increased their target price on shares of ViaSat from $78.00 to $100.00 and gave the stock a buy rating in a research note on Friday, May 24th. Raymond James cut shares of ViaSat from an outperform rating to a market perform rating and set a $90.92 price target for the company. in a research report on Thursday, May 30th. They noted that the move was a valuation call. B. Riley raised their target price on shares of ViaSat from $89.00 to $145.00 and gave the stock a buy rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of ViaSat from a hold rating to a buy rating and set a $101.00 target price for the company in a research report on Monday, May 13th. Finally, ValuEngine raised shares of ViaSat from a buy rating to a strong-buy rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. ViaSat presently has an average rating of Buy and an average price target of $96.99.

Shares of NASDAQ:VSAT traded down $1.06 during midday trading on Monday, hitting $80.81. 446,522 shares of the company’s stock were exchanged, compared to its average volume of 489,520. The company has a current ratio of 1.83, a quick ratio of 1.34 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average price is $89.10. The stock has a market cap of $5.02 billion, a P/E ratio of -71.51 and a beta of 0.98. ViaSat has a 12 month low of $55.93 and a 12 month high of $97.31.

ViaSat (NASDAQ:VSAT) last issued its quarterly earnings data on Thursday, May 23rd. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.29. The business had revenue of $557.20 million during the quarter, compared to the consensus estimate of $538.73 million. ViaSat had a negative net margin of 3.27% and a negative return on equity of 3.47%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.34) EPS. Analysts expect that ViaSat will post -0.1 EPS for the current fiscal year.

In related news, insider Ken Allen Peterman sold 47,625 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $78.09, for a total transaction of $3,719,036.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harvey White sold 3,770 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $87.79, for a total value of $330,968.30. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $438,950. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 470,903 shares of company stock worth $41,735,777. Company insiders own 8.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in ViaSat by 26.0% in the third quarter. JPMorgan Chase & Co. now owns 43,679 shares of the communications equipment provider’s stock valued at $2,793,000 after purchasing an additional 9,018 shares in the last quarter. IFP Advisors Inc lifted its position in ViaSat by 245.3% during the 4th quarter. IFP Advisors Inc now owns 1,478 shares of the communications equipment provider’s stock valued at $86,000 after acquiring an additional 1,050 shares during the period. Strs Ohio lifted its position in ViaSat by 34.6% during the 4th quarter. Strs Ohio now owns 7,000 shares of the communications equipment provider’s stock valued at $412,000 after acquiring an additional 1,800 shares during the period. Arizona State Retirement System lifted its position in ViaSat by 1.3% during the 4th quarter. Arizona State Retirement System now owns 40,244 shares of the communications equipment provider’s stock valued at $2,372,000 after acquiring an additional 498 shares during the period. Finally, Rhumbline Advisers lifted its position in ViaSat by 64.6% during the 4th quarter. Rhumbline Advisers now owns 173,622 shares of the communications equipment provider’s stock valued at $10,235,000 after acquiring an additional 68,125 shares during the period. 96.49% of the stock is currently owned by hedge funds and other institutional investors.

About ViaSat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband Internet access and voice over Internet protocol services to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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