ViaSat, Inc. (NASDAQ:VSAT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm currently has a $75.00 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 2.88% from the stock’s previous close.
According to Zacks, “ViaSat posted modest results for second-quarter fiscal 2018, as earnings beat the Zacks Consensus Estimate by a whopping 250% but fell year over year, hurt by escalating research and development costs, and costs related to the ViaSat-2 service launch activities. Still, the company recorded terrific growth in government business and somewhat offset by contraction in Commercial Networks revenues. Steady growth in in-flight connectivity services, mobile broadband, consumer ARPU gains and cost-reduction initiatives proved conducive to growth. The company recently launched ViaSat-2 satellite, which holds tremendous potential over the long run. ViaSat shares have outperformed the industry’s average return as well, over the past six months. However, persistent weakness in the Commercial Networks segment, seasonality of demand, strong competition and huge rise in R&D expenses continue to be overhangs for the company’s profitability.”
Other equities analysts have also recently issued research reports about the stock. B. Riley reissued a “buy” rating and set a $89.00 target price on shares of ViaSat in a research note on Monday, August 7th. TheStreet cut shares of ViaSat from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada set a $50.00 target price on shares of ViaSat and gave the company a “sell” rating in a research note on Tuesday, August 15th. Needham & Company LLC raised shares of ViaSat from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Friday, November 10th. Finally, 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $74.17.
ViaSat (VSAT) opened at $72.90 on Monday. The company has a market cap of $4,250.00, a PE ratio of 1,368.00 and a beta of 0.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.71 and a current ratio of 2.26. ViaSat has a 52 week low of $57.75 and a 52 week high of $81.71.
ViaSat (NASDAQ:VSAT) last released its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The firm had revenue of $393.10 million for the quarter, compared to analysts’ expectations of $401.83 million. ViaSat had a negative net margin of 0.75% and a positive return on equity of 0.13%. ViaSat’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. equities research analysts forecast that ViaSat will post -0.92 earnings per share for the current year.
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In other ViaSat news, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $63.70, for a total value of $44,590.00. Following the completion of the transaction, the director now directly owns 8,700 shares in the company, valued at $554,190. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Keven K. Lippert sold 1,200 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.20, for a total transaction of $83,040.00. Following the completion of the transaction, the insider now owns 2,949 shares of the company’s stock, valued at $204,070.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,300 shares of company stock valued at $7,657,624. Insiders own 7.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC boosted its holdings in shares of ViaSat by 55.9% in the third quarter. Cubist Systematic Strategies LLC now owns 11,538 shares of the communications equipment provider’s stock worth $742,000 after buying an additional 4,138 shares during the period. Fiduciary Management Inc. WI boosted its holdings in shares of ViaSat by 78.2% in the third quarter. Fiduciary Management Inc. WI now owns 779,160 shares of the communications equipment provider’s stock worth $50,116,000 after buying an additional 341,875 shares during the period. ThornTree Capital Partners LP boosted its holdings in shares of ViaSat by 12.3% in the third quarter. ThornTree Capital Partners LP now owns 259,700 shares of the communications equipment provider’s stock worth $16,704,000 after buying an additional 28,500 shares during the period. B. Riley Financial Inc. boosted its holdings in shares of ViaSat by 123.9% in the third quarter. B. Riley Financial Inc. now owns 21,104 shares of the communications equipment provider’s stock worth $1,352,000 after buying an additional 11,680 shares during the period. Finally, Partners Capital Investment Group Holdings LLC boosted its holdings in shares of ViaSat by 13.4% in the third quarter. Partners Capital Investment Group Holdings LLC now owns 341,554 shares of the communications equipment provider’s stock worth $21,969,000 after buying an additional 40,290 shares during the period. Institutional investors own 99.26% of the company’s stock.
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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