Viasat (NASDAQ:VSAT – Free Report) had its target price reduced by JPMorgan Chase & Co. from $130.00 to $120.00 in a research note issued to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the communications equipment provider’s stock.
A number of other analysts have also issued reports on VSAT. Morgan Stanley set a $95.00 price objective on Viasat in a research note on Monday, August 10th. Raymond James Financial restated an “outperform” rating and issued a $95.00 target price on shares of Viasat in a research note on Friday, November 6th. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Needham & Company LLC decreased their price target on Viasat from $105.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Finally, Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.56.
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Viasat Stock Up 0.3%
Viasat stock opened at $75.11 on Monday. Viasat has a 1-year low of $29.13 and a 1-year high of $93.03. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of -104.32 and a beta of 1.76. The company has a current ratio of 1.65, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm has a 50 day simple moving average of $70.24 and a 200 day simple moving average of $64.73.
Viasat (NASDAQ:VSAT – Get Free Report) last posted its earnings results on Thursday, November 5th. The communications equipment provider reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.10. Viasat had a negative return on equity of 0.05% and a negative net margin of 2.07%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Viasat will post -0.38 earnings per share for the current year.
Insider Transactions at Viasat
In other Viasat news, SVP Benjamin Palmer sold 2,000 shares of Viasat stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $69.87, for a total transaction of $139,740.00. Following the completion of the sale, the senior vice president owned 28,087 shares of the company’s stock, valued at $1,962,438.69. The trade was a 6.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Craig Miller sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $70.19, for a total value of $1,579,275.00. Following the completion of the transaction, the senior vice president owned 41,570 shares of the company’s stock, valued at $2,917,798.30. The trade was a 35.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 51,098 shares of company stock worth $3,593,911. Company insiders own 1.40% of the company’s stock.
Institutional Trading of Viasat
A number of hedge funds have recently bought and sold shares of the company. Aberdeen Wealth Management LLC bought a new stake in Viasat in the second quarter worth $30,000. Elevation Wealth Partners LLC lifted its position in Viasat by 935.3% in the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 318 shares during the last quarter. Bullseye Investment Management LLC bought a new stake in Viasat in the second quarter valued at approximately $37,000. Parallel Advisors LLC lifted its position in Viasat by 169.3% in the third quarter. Parallel Advisors LLC now owns 412 shares of the communications equipment provider’s stock valued at $29,000 after purchasing an additional 259 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Viasat during the second quarter valued at approximately $43,000. Institutional investors own 86.05% of the company’s stock.
Viasat Company Profile
Viasat, Inc. is a global communications company that designs, develops and operates satellite and wireless communications systems. Its services support consumers, businesses, governments and other organizations that need connectivity in areas where terrestrial networks may be limited. The company provides satellite broadband for homes and businesses, in-flight connectivity for commercial and business aircraft, and communications services for maritime customers. Viasat also supplies secure communications, networking equipment and related services to government and defense customers.
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