EchoStar (NASDAQ:SATS) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of EchoStar (NASDAQ:SATS) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

SATS has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. Morgan Stanley upgraded shares of EchoStar from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $82.00 to $110.00 in a report on Wednesday, December 10th. UBS Group reaffirmed a “buy” rating on shares of EchoStar in a research report on Thursday, January 29th. Finally, TD Cowen reiterated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, EchoStar presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.83.

EchoStar Price Performance

EchoStar stock traded down $6.79 during mid-day trading on Monday, hitting $108.88. 2,369,539 shares of the company traded hands, compared to its average volume of 6,439,660. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.56 and a current ratio of 0.61. EchoStar has a one year low of $14.90 and a one year high of $132.25. The stock has a market cap of $31.34 billion, a price-to-earnings ratio of -2.43 and a beta of 1.01. The stock has a fifty day moving average price of $110.88 and a 200-day moving average price of $79.22.

Insider Buying and Selling

In other news, CEO Hamid Akhavan sold 285,832 shares of EchoStar stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $105.33, for a total value of $30,106,684.56. Following the completion of the transaction, the chief executive officer owned 376,805 shares of the company’s stock, valued at $39,688,870.65. The trade was a 43.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Swieringa sold 22,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $67.34, for a total transaction of $1,481,480.00. Following the completion of the transaction, the chief operating officer owned 283,509 shares in the company, valued at approximately $19,091,496.06. The trade was a 7.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 55.70% of the company’s stock.

Institutional Investors Weigh In On EchoStar

A number of institutional investors have recently made changes to their positions in SATS. HB Wealth Management LLC boosted its holdings in shares of EchoStar by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 4,933 shares of the communications equipment provider’s stock worth $536,000 after buying an additional 98 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of EchoStar by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the communications equipment provider’s stock valued at $611,000 after acquiring an additional 114 shares during the period. Fifth Third Bancorp increased its stake in shares of EchoStar by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,800 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 135 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of EchoStar by 0.5% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 30,118 shares of the communications equipment provider’s stock worth $3,274,000 after purchasing an additional 144 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in EchoStar in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

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.