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.
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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