ViaSat, Inc. (VSAT) Earns “Buy” Rating from B. Riley
B. Riley reissued their buy rating on shares of ViaSat, Inc. (NASDAQ:VSAT) in a research note issued to investors on Thursday morning. The firm currently has a $89.00 target price on the communications equipment provider’s stock.
Other analysts have also recently issued reports about the stock. TheStreet cut shares of ViaSat from a b- rating to a c rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of ViaSat from a sell rating to a hold rating in a research report on Wednesday, October 25th. Jefferies Group LLC set a $67.00 target price on shares of ViaSat and gave the company a hold rating in a research report on Sunday, September 10th. Finally, Royal Bank Of Canada set a $50.00 target price on shares of ViaSat and gave the company a sell rating in a research report on Tuesday, August 15th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $74.09.
Shares of ViaSat (NASDAQ:VSAT) opened at $68.40 on Thursday. The company has a current ratio of 2.26, a quick ratio of 1.71 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3,983.43, a PE ratio of 1,368.00 and a beta of 0.74. ViaSat has a 1 year low of $57.75 and a 1 year high of $82.19.
ViaSat (NASDAQ:VSAT) last announced its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the 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%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. sell-side analysts anticipate that ViaSat will post -0.92 earnings per share for the current fiscal year.
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In other ViaSat news, CEO Mark D. Dankberg sold 28,500 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $60.12, for a total value of $1,713,420.00. Following the transaction, the chief executive officer now directly owns 28,500 shares in the company, valued at approximately $1,713,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $63.70, for a total transaction of $44,590.00. Following the completion of the transaction, the director now owns 8,700 shares in the company, valued at $554,190. The disclosure for this sale can be found here. Insiders have sold a total of 120,100 shares of company stock worth $7,574,584 over the last quarter. 7.70% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in ViaSat by 1,936.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,135 shares of the communications equipment provider’s stock worth $803,000 after acquiring an additional 11,539 shares in the last quarter. Legal & General Group Plc grew its stake in ViaSat by 26.6% in the 1st quarter. Legal & General Group Plc now owns 35,347 shares of the communications equipment provider’s stock worth $2,254,000 after acquiring an additional 7,428 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in ViaSat by 123.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,641 shares of the communications equipment provider’s stock worth $1,764,000 after acquiring an additional 14,694 shares in the last quarter. Fiduciary Management Inc. WI bought a new position in ViaSat in the 2nd quarter worth about $28,948,000. Finally, Comerica Bank grew its stake in ViaSat by 27.5% in the 2nd quarter. Comerica Bank now owns 52,615 shares of the communications equipment provider’s stock worth $3,471,000 after acquiring an additional 11,334 shares in the last quarter. Institutional investors and hedge funds 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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