ViaSat, Inc. (VSAT) Upgraded to “Strong-Buy” at Zacks Investment Research
ViaSat, Inc. (NASDAQ:VSAT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $75.00 target price on the communications equipment provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.65% from the company’s current price.
According to Zacks, “ViaSat posted modest results for second-quarter fiscal 2018, as earnings beat the Zacks Consensus Estimate by a whopping 250% but fell year over year, hurt by escalating research and development costs, and costs related to the ViaSat-2 service launch activities. Still, the company recorded terrific growth in government business and somewhat offset by contraction in Commercial Networks revenues. Steady growth in in-flight connectivity services, mobile broadband, consumer ARPU gains and cost-reduction initiatives proved conducive to growth. The company recently launched ViaSat-2 satellite, which holds tremendous potential over the long run. ViaSat shares have outperformed the industry’s average return as well, over the past six months. However, persistent weakness in the Commercial Networks segment, seasonality of demand, strong competition and huge rise in R&D expenses continue to be overhangs for the company’s profitability.”
A number of other equities analysts also recently weighed in on VSAT. Needham & Company LLC upgraded ViaSat from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Friday. B. Riley restated a “buy” rating and issued a $89.00 target price on shares of ViaSat in a research note on Thursday. Royal Bank Of Canada cut their target price on ViaSat from $50.00 to $48.00 and set an “underperform” rating on the stock in a research note on Thursday, October 5th. Jefferies Group LLC set a $67.00 target price on ViaSat and gave the stock a “hold” rating in a research note on Sunday, September 10th. Finally, TheStreet downgraded ViaSat from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $74.17.
Shares of ViaSat (VSAT) opened at $68.40 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.71 and a current ratio of 2.26. The company has a market capitalization of $3,983.43, a P/E ratio of 1,368.00 and a beta of 0.74. ViaSat has a twelve month low of $57.75 and a twelve month high of $82.19.
ViaSat (NASDAQ:VSAT) last issued its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $393.10 million during the quarter, compared to analyst estimates of $401.83 million. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. sell-side analysts predict that ViaSat will post -0.92 earnings per share for the current fiscal year.
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In other ViaSat news, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction on Friday, September 1st. The shares were 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 of the company’s stock, valued at approximately $554,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark D. Dankberg sold 28,500 shares of the business’s stock in a transaction on 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 directly owns 28,500 shares in the company, valued at approximately $1,713,420. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,100 shares of company stock worth $7,574,584. 7.70% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of VSAT. Disciplined Growth Investors Inc. MN raised its holdings in ViaSat by 109.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,148,694 shares of the communications equipment provider’s stock valued at $76,044,000 after acquiring an additional 599,752 shares during the period. Hood River Capital Management LLC bought a new stake in ViaSat during the 2nd quarter valued at $29,147,000. Fiduciary Management Inc. WI bought a new stake in ViaSat during the 2nd quarter valued at $28,948,000. Odey Asset Management Group Ltd raised its holdings in ViaSat by 23.2% during the 2nd quarter. Odey Asset Management Group Ltd now owns 2,148,954 shares of the communications equipment provider’s stock valued at $142,261,000 after acquiring an additional 404,251 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in ViaSat during the 2nd quarter valued at $18,403,000. 99.26% of the stock is currently owned by institutional investors and hedge funds.
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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