ViaSat’s (VSAT) Underperform Rating Reiterated at Royal Bank Of Canada
ViaSat, Inc. (NASDAQ:VSAT)‘s stock had its “underperform” rating reiterated by equities researchers at Royal Bank Of Canada in a report issued on Tuesday, MarketBeat reports. They currently have a $46.00 price objective on the communications equipment provider’s stock, down from their previous price objective of $48.00. Royal Bank Of Canada’s price objective would indicate a potential downside of 38.25% from the stock’s previous close.
A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC set a $67.00 price target on shares of ViaSat and gave the stock a “hold” rating in a research report on Sunday, September 10th. Zacks Investment Research raised shares of ViaSat from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Needham & Company LLC raised shares of ViaSat from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Friday, November 10th. B. Riley reaffirmed a “buy” rating and set a $89.00 price target on shares of ViaSat in a research report on Thursday, November 9th. Finally, TheStreet cut shares of ViaSat from a “b-” rating to a “c” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.00.
Shares of ViaSat (NASDAQ VSAT) traded up $0.72 during trading on Tuesday, reaching $74.49. 522,600 shares of the company were exchanged, compared to its average volume of 447,916. The company has a current ratio of 2.26, a quick ratio of 1.71 and a debt-to-equity ratio of 0.37. ViaSat has a 12-month low of $57.75 and a 12-month high of $74.95. The stock has a market cap of $4,340.00, a PE ratio of 1,475.40 and a beta of 0.74.
ViaSat (NASDAQ:VSAT) last announced its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. ViaSat had a negative net margin of 0.75% and a positive return on equity of 0.13%. The firm had revenue of $393.10 million during the quarter, compared to analysts’ expectations of $401.83 million. During the same period in the prior year, the company earned $0.40 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. analysts predict that ViaSat will post -0.98 earnings per share for the current year.
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In related news, CEO Mark D. Dankberg sold 28,500 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $60.12, for a total transaction of $1,713,420.00. Following the sale, the chief executive officer now owns 28,500 shares in the company, valued at $1,713,420. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Stenbit sold 700 shares of the 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 sale, the director now owns 8,700 shares in the company, valued at approximately $554,190. The disclosure for this sale can be found here. Insiders have sold 128,300 shares of company stock worth $8,169,794 in the last ninety days. Corporate insiders own 7.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. World Asset Management Inc raised its stake in ViaSat by 1.7% during the second quarter. World Asset Management Inc now owns 3,279 shares of the communications equipment provider’s stock worth $217,000 after acquiring an additional 56 shares during the period. PNC Financial Services Group Inc. raised its stake in ViaSat by 9.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,582 shares of the communications equipment provider’s stock worth $105,000 after acquiring an additional 131 shares during the period. Teacher Retirement System of Texas raised its stake in ViaSat by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 4,392 shares of the communications equipment provider’s stock worth $291,000 after acquiring an additional 169 shares during the period. 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 valued at $231,000 after purchasing an additional 190 shares during the period. Finally, Capstone Asset Management Co. increased its stake in shares of ViaSat by 5.6% in the second quarter. Capstone Asset Management Co. now owns 3,976 shares of the communications equipment provider’s stock valued at $263,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 99.42% of the company’s stock.
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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