ViaSat (VSAT) Now Covered by Analysts at Morgan Stanley
Morgan Stanley began coverage on shares of ViaSat (NASDAQ:VSAT) in a research report released on Friday. The brokerage issued an equal weight rating and a $78.00 price target on the communications equipment provider’s stock.
Several other research firms also recently weighed in on VSAT. B. Riley reissued a buy rating and set a $89.00 price objective on shares of ViaSat in a report on Thursday, November 9th. Needham & Company LLC raised ViaSat from a hold rating to a buy rating and set a $78.00 price objective on the stock in a report on Friday, November 10th. Zacks Investment Research downgraded ViaSat from a strong-buy rating to a hold rating in a report on Tuesday, November 14th. Royal Bank of Canada reissued an underperform rating and set a $46.00 price objective (down previously from $48.00) on shares of ViaSat in a report on Tuesday, November 21st. Finally, BidaskClub downgraded ViaSat from a hold rating to a sell rating in a report on Saturday, December 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. ViaSat presently has an average rating of Hold and a consensus target price of $73.75.
ViaSat (NASDAQ:VSAT) traded up $1.24 during midday trading on Friday, hitting $73.96. The company had a trading volume of 722,067 shares, compared to its average volume of 505,284. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.71 and a current ratio of 2.26. ViaSat has a 12 month low of $57.75 and a 12 month high of $74.99. The firm has a market cap of $4,380.00, a P/E ratio of 1,454.40 and a beta of 0.78.
ViaSat (NASDAQ:VSAT) last released its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The company had revenue of $393.10 million for the quarter, compared to the consensus estimate of $401.83 million. During the same quarter last year, the business posted $0.40 EPS. ViaSat’s revenue for the quarter was down 1.5% on a year-over-year basis. equities research analysts anticipate that ViaSat will post -0.98 EPS for the current year.
In other news, CEO Mark D. Dankberg sold 28,500 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $64.00, for a total value of $1,824,000.00. Following the transaction, the chief executive officer now directly owns 28,500 shares of the company’s stock, valued at approximately $1,824,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $64.42, for a total value of $45,094.00. Following the completion of the transaction, the director now directly owns 10,300 shares in the company, valued at $663,526. The disclosure for this sale can be found here. Insiders have sold a total of 79,300 shares of company stock worth $5,306,803 over the last ninety days. Company insiders own 7.70% of the company’s stock.
Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of ViaSat by 9.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,582 shares of the communications equipment provider’s stock valued at $105,000 after purchasing an additional 131 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ViaSat by 13.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 216 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of ViaSat in the 2nd quarter valued at about $203,000. Shelton Capital Management acquired a new position in shares of ViaSat in the 2nd quarter valued at about $206,000. Finally, Balter Liquid Alternatives LLC acquired a new position in shares of ViaSat in the 2nd quarter valued at about $208,000. 99.42% of the stock is currently owned by institutional investors.
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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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