Royal Bank Of Canada set a $50.00 price objective on ViaSat, Inc. (NASDAQ:VSAT) in a research note released on Tuesday. The brokerage currently has a sell rating on the communications equipment provider’s stock.
A number of other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of ViaSat from a sell rating to a strong sell rating in a report on Wednesday, June 21st. Cowen and Company raised shares of ViaSat from a market perform rating to an outperform rating in a report on Saturday, June 3rd. B. Riley set a $89.00 target price on shares of ViaSat and gave the stock a buy rating in a report on Wednesday, June 14th. TheStreet raised shares of ViaSat from a c rating to a b- rating in a report on Tuesday, May 23rd. Finally, Wells Fargo & Company set a $96.00 price objective on shares of ViaSat and gave the company a buy rating in a research note on Wednesday, May 24th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $76.45.
Shares of ViaSat (NASDAQ VSAT) opened at 59.30 on Tuesday. The company has a market capitalization of $3.44 billion, a PE ratio of 256.71 and a beta of 0.68. ViaSat has a 1-year low of $57.75 and a 1-year high of $82.19. The stock’s 50 day moving average is $64.42 and its 200 day moving average is $65.45.
ViaSat (NASDAQ:VSAT) last posted its earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.03. ViaSat had a return on equity of 1.21% and a net margin of 0.82%. The business had revenue of $380 million for the quarter, compared to the consensus estimate of $384.29 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that ViaSat will post $0.05 EPS for the current fiscal year.
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In other ViaSat news, COO Richard A. Baldridge sold 35,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $59.92, for a total transaction of $2,097,200.00. Following the transaction, the chief operating officer now owns 59,000 shares in the company, valued at $3,535,280. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kevin J. Harkenrider sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $66.07, for a total transaction of $1,321,400.00. Following the transaction, the insider now owns 24,004 shares in the company, valued at approximately $1,585,944.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,650 shares of company stock worth $4,133,479. Corporate insiders own 7.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VSAT. Neuburgh Advisers LLC increased its position in ViaSat by 20.5% in the first quarter. Neuburgh Advisers LLC now owns 1,600 shares of the communications equipment provider’s stock valued at $102,000 after buying an additional 272 shares during the last quarter. Quantbot Technologies LP acquired a new position in ViaSat during the first quarter valued at $105,000. PNC Financial Services Group Inc. increased its position in ViaSat by 9.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,582 shares of the communications equipment provider’s stock valued at $105,000 after buying an additional 131 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ViaSat by 13.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 216 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its position in ViaSat by 20.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,200 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.
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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