ViaSat, Inc. (VSAT) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of ViaSat, Inc. (NASDAQ:VSAT) have earned a consensus rating of “Hold” from the seventeen analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $75.70.
Several analysts have issued reports on the company. B. Riley restated a “buy” rating and set a $89.00 price objective on shares of ViaSat in a report on Sunday. Zacks Investment Research cut ViaSat from a “hold” rating to a “sell” rating in a research note on Friday. TheStreet cut ViaSat from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Barclays PLC reaffirmed an “equal weight” rating and set a $80.00 target price (down previously from $82.00) on shares of ViaSat in a research note on Monday, July 10th. Finally, BidaskClub cut ViaSat from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st.
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Shares of ViaSat (NASDAQ:VSAT) opened at 62.40 on Tuesday. ViaSat has a 1-year low of $57.75 and a 1-year high of $82.19. The firm has a market capitalization of $3.62 billion, a PE ratio of 270.13 and a beta of 0.68. The firm’s 50 day moving average is $65.16 and its 200 day moving average is $65.57.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The company had revenue of $380 million for the quarter, compared to analyst estimates of $384.29 million. ViaSat had a return on equity of 1.21% and a net margin of 0.82%. ViaSat’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. Analysts anticipate that ViaSat will post $0.05 EPS for the current fiscal year.
In related news, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $64.78, for a total value of $45,346.00. Following the completion of the sale, the director now owns 8,700 shares of the company’s stock, valued at approximately $563,586. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey M. Nash sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $71.76, for a total value of $358,800.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $358,800. The disclosure for this sale can be found here. In the last three months, insiders sold 61,400 shares of company stock valued at $3,869,086. 7.70% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. purchased a new stake in shares of ViaSat during the first quarter valued at approximately $273,000. Independent Portfolio Consultants Inc. purchased a new stake in shares of ViaSat during the first quarter valued at approximately $163,000. Nationwide Fund Advisors boosted its stake in shares of ViaSat by 1.5% in the first quarter. Nationwide Fund Advisors now owns 118,370 shares of the communications equipment provider’s stock valued at $7,554,000 after buying an additional 1,733 shares during the last quarter. CAPROCK Group Inc. boosted its stake in shares of ViaSat by 19.5% in the first quarter. CAPROCK Group Inc. now owns 9,200 shares of the communications equipment provider’s stock valued at $587,000 after buying an additional 1,500 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of ViaSat by 2.8% in the first quarter. Retirement Systems of Alabama now owns 68,401 shares of the communications equipment provider’s stock valued at $4,365,000 after buying an additional 1,885 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.
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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