Analysts Set EchoStar Corporation (NASDAQ:SATS) PT at $134.17

Shares of EchoStar Corporation (NASDAQ:SATS) have received a consensus rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $134.1667.

A number of research firms have weighed in on SATS. TD Cowen restated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. UBS Group boosted their price objective on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a report on Wednesday, January 21st. Williams Trading set a $158.00 target price on EchoStar in a research note on Wednesday, January 7th. Finally, Citigroup lifted their target price on EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd.

EchoStar Stock Up 0.5%

SATS stock opened at $133.21 on Wednesday. The firm’s 50-day moving average is $115.83 and its two-hundred day moving average is $100.46. The company has a market capitalization of $38.48 billion, a price-to-earnings ratio of -2.65 and a beta of 1.00. EchoStar has a 52 week low of $14.90 and a 52 week high of $135.88. The company has a current ratio of 0.42, a quick ratio of 0.38 and a debt-to-equity ratio of 3.21.

Insider Activity

In related news, COO John Swieringa sold 50,088 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the completion of the sale, the chief operating officer directly owned 253,535 shares of the company’s stock, valued at $28,796,505.30. This represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hamid Akhavan sold 71,005 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the sale, the chief executive officer owned 823,293 shares of the company’s stock, valued at $88,520,463.36. The trade was a 7.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 55.90% of the company’s stock.

Institutional Trading of EchoStar

Large investors have recently added to or reduced their stakes in the company. DLD Asset Management LP acquired a new position in EchoStar in the 3rd quarter worth about $2,481,700,000. Sachem Head Capital Management LP acquired a new stake in shares of EchoStar during the 4th quarter valued at about $568,218,000. Icahn Carl C acquired a new stake in shares of EchoStar during the 3rd quarter valued at about $332,513,000. Norges Bank bought a new stake in shares of EchoStar in the 4th quarter valued at approximately $182,111,000. Finally, Contrarius Group Holdings Ltd bought a new stake in shares of EchoStar in the 3rd quarter valued at approximately $98,819,000. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Company Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.