ViaSat, Inc. (VSAT) Price Target Cut to $48.00 by Analysts at Royal Bank Of Canada
ViaSat, Inc. (NASDAQ:VSAT) had its price objective trimmed by Royal Bank Of Canada from $50.00 to $48.00 in a research note published on Thursday. The firm currently has an underperform rating on the communications equipment provider’s stock.
VSAT has been the subject of several other reports. B. Riley reiterated a buy rating and set a $89.00 target price on shares of ViaSat in a research report on Monday, August 7th. BidaskClub lowered shares of ViaSat from a sell rating to a strong sell rating in a research report on Wednesday, June 21st. TheStreet lowered shares of ViaSat from a b- rating to a c rating in a research report on Wednesday, August 9th. Jefferies Group LLC set a $67.00 price target on shares of ViaSat and gave the stock a hold rating in a research note on Sunday, September 10th. Finally, Zacks Investment Research downgraded shares of ViaSat from a hold rating to a sell rating in a research note on Friday, August 11th. Four analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $73.70.
ViaSat (VSAT) traded down 0.17% during trading on Thursday, reaching $65.01. 361,153 shares of the company were exchanged. ViaSat has a one year low of $57.75 and a one year high of $82.19. The company has a market capitalization of $3.77 billion, a P/E ratio of 281.43 and a beta of 0.71. The firm’s 50-day moving average is $62.37 and its 200 day moving average is $64.48.
ViaSat (NASDAQ:VSAT) last announced its earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). ViaSat had a net margin of 0.82% and a return on equity of 1.21%. The company had revenue of $380.00 million for the quarter, compared to the consensus estimate of $384.29 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that ViaSat will post $0.05 EPS for the current fiscal year.
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In other news, insider Bruce Leroy Dirks bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $59.78 per share, with a total value of $59,780.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 completion of the transaction, the insider now directly owns 24,004 shares in the company, valued at $1,585,944.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,350 shares of company stock worth $11,128,257. 7.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. World Asset Management Inc increased its stake in shares of ViaSat by 1.7% in the second quarter. World Asset Management Inc now owns 3,279 shares of the communications equipment provider’s stock worth $217,000 after buying an additional 56 shares during the period. CrestPoint Capital Management LLC increased its stake in shares of ViaSat by 0.8% in the second quarter. CrestPoint Capital Management LLC now owns 12,500 shares of the communications equipment provider’s stock worth $827,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of ViaSat by 9.0% in 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 during the period. Teacher Retirement System of Texas increased its stake in shares of ViaSat by 4.0% in the second quarter. Teacher Retirement System of Texas now owns 4,392 shares of the communications equipment provider’s stock worth $291,000 after buying an additional 169 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of ViaSat by 5.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,495 shares of the communications equipment provider’s stock worth $231,000 after buying an additional 190 shares during the period. 99.42% of the stock is currently owned by institutional investors.
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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