Telesat (NASDAQ:TSAT) Price Target Raised to $37.00

Telesat (NASDAQ:TSAT) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $19.00 to $37.00 in a research report report published on Thursday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $37.00.

Telesat Stock Performance

Shares of Telesat stock opened at $37.06 on Thursday. The firm’s 50-day moving average is $31.49 and its 200 day moving average is $29.26. The stock has a market cap of $525.88 million, a price-to-earnings ratio of -4.90 and a beta of 1.95. Telesat has a 1 year low of $14.77 and a 1 year high of $43.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.25 and a quick ratio of 4.11.

Hedge Funds Weigh In On Telesat

A number of institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in Telesat by 63.3% in the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after buying an additional 2,473 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in Telesat during the second quarter valued at $248,000. Walleye Capital LLC bought a new stake in shares of Telesat in the second quarter worth about $1,814,000. Jump Financial LLC bought a new stake in Telesat in the 2nd quarter worth approximately $449,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Telesat by 6.9% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 79,161 shares of the company’s stock valued at $1,935,000 after purchasing an additional 5,100 shares in the last quarter.

Telesat Company Profile

Telesat is a leading global satellite operator that designs, builds and delivers high-performance satellite communications solutions across multiple markets. The company operates a fleet of geostationary satellites to provide video distribution, data networking and managed broadband services to media companies, network operators, governments and enterprise customers. Telesat’s infrastructure supports television distribution, cellular backhaul, rural broadband and corporate network applications.

In addition to its geostationary offerings, Telesat is developing a low Earth orbit (LEO) satellite constellation known as Lightspeed.