ViaSat, Inc. (VSAT) PT Set at $67.00 by Jefferies Group LLC
ViaSat, Inc. (NASDAQ:VSAT) received a $67.00 price objective from Jefferies Group LLC in a report issued on Sunday. The firm currently has a “hold” rating on the communications equipment provider’s stock. Jefferies Group LLC’s price objective points to a potential upside of 11.39% from the stock’s previous close. Jefferies Group also issued estimates for ViaSat’s FY2020 earnings at $2.59 EPS and FY2021 earnings at $3.58 EPS.
VSAT has been the subject of a number of other research reports. B. Riley reiterated a “buy” rating and set a $89.00 price objective on shares of ViaSat in a report on Monday, August 7th. BidaskClub lowered shares of ViaSat from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. TheStreet lowered shares of ViaSat from a “b-” rating to a “c” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co restated a “neutral” rating and issued a $74.00 price target on shares of ViaSat in a report on Wednesday, May 31st. Finally, Royal Bank Of Canada set a $50.00 price target on shares of ViaSat and gave the company a “sell” rating in a report on Saturday, May 27th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. ViaSat has a consensus rating of “Hold” and an average target price of $74.82.
ViaSat (VSAT) opened at 60.15 on Friday. The company has a 50-day moving average of $62.99 and a 200-day moving average of $64.94. The company has a market capitalization of $3.49 billion, a P/E ratio of 260.39 and a beta of 0.69. ViaSat has a 1-year low of $57.75 and a 1-year high of $82.19.
ViaSat (NASDAQ:VSAT) last announced its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates 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 million for the quarter, compared to the consensus estimate of $384.29 million. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts expect that ViaSat will post $0.05 EPS for the current fiscal year.
In other news, insider Kevin J. Harkenrider sold 20,000 shares of ViaSat stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $66.07, for a total value of $1,321,400.00. Following the transaction, the insider now owns 24,004 shares of the company’s stock, valued at approximately $1,585,944.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Richard A. Baldridge sold 35,000 shares of ViaSat stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $59.92, for a total transaction of $2,097,200.00. Following the completion of the transaction, the chief operating officer now directly owns 59,000 shares in the company, valued at approximately $3,535,280. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,350 shares of company stock worth $3,819,269. Insiders own 7.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of ViaSat by 1.6% in the 2nd quarter. BlackRock Inc. now owns 5,478,099 shares of the communications equipment provider’s stock worth $362,651,000 after buying an additional 84,457 shares during the last quarter. Vanguard Group Inc. grew its position in shares of ViaSat by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,459,294 shares of the communications equipment provider’s stock worth $295,205,000 after buying an additional 30,325 shares during the last quarter. New South Capital Management Inc. grew its position in shares of ViaSat by 12.2% in the 2nd quarter. New South Capital Management Inc. now owns 2,309,525 shares of the communications equipment provider’s stock worth $152,891,000 after buying an additional 251,890 shares during the last quarter. Odey Asset Management Group Ltd grew its position in shares of ViaSat by 23.2% in the 2nd quarter. Odey Asset Management Group Ltd now owns 2,148,954 shares of the communications equipment provider’s stock worth $142,261,000 after buying an additional 404,251 shares during the last quarter. Finally, State Street Corp grew its position in shares of ViaSat by 5.3% in the 2nd quarter. State Street Corp now owns 1,762,352 shares of the communications equipment provider’s stock worth $116,669,000 after buying an additional 88,421 shares during the last quarter. 99.42% of the stock is currently owned by hedge funds and other institutional investors.
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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