Viasat (NASDAQ:VSAT) Stock Rating Lowered by Wall Street Zen

Viasat (NASDAQ:VSAT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other research firms also recently weighed in on VSAT. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $97.00 price target on shares of Viasat in a report on Monday, June 1st. Barclays set a $49.00 price target on shares of Viasat in a research note on Friday, May 29th. Finally, Oppenheimer assumed coverage on Viasat in a research report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Viasat has an average rating of “Moderate Buy” and a consensus target price of $85.78.

Viasat Price Performance

Shares of NASDAQ VSAT opened at $80.38 on Friday. The stock has a market capitalization of $11.07 billion, a P/E ratio of -334.92 and a beta of 1.72. The company’s 50-day moving average is $72.29 and its 200 day moving average is $60.81. Viasat has a 1 year low of $24.95 and a 1 year high of $93.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned ($0.02) EPS. On average, sell-side analysts expect that Viasat will post -0.28 earnings per share for the current year.

Insider Activity

In other Viasat news, Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $84.69, for a total value of $211,725.00. Following the completion of the transaction, the director directly owned 11,000 shares of the company’s stock, valued at $931,590. The trade was a 18.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Stenbit sold 616 shares of Viasat stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total transaction of $46,483.36. Following the completion of the transaction, the director owned 634 shares of the company’s stock, valued at $47,841.64. This represents a 49.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 448,319 shares of company stock valued at $29,383,832 in the last three months. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Viasat

A number of large investors have recently modified their holdings of the business. Versant Capital Management Inc raised its position in Viasat by 4.4% in the second quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider’s stock valued at $444,000 after purchasing an additional 207 shares during the period. Cetera Investment Advisers boosted its position in shares of Viasat by 2.6% in the first quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider’s stock worth $394,000 after buying an additional 217 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of 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 buying an additional 318 shares in the last quarter. Vise Technologies Inc. raised its holdings in shares of Viasat by 4.8% during the 4th quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock valued at $257,000 after buying an additional 342 shares during the period. Finally, CWM LLC lifted its position in Viasat by 1.8% during the 4th quarter. CWM LLC now owns 19,360 shares of the communications equipment provider’s stock worth $667,000 after acquiring an additional 349 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

About Viasat

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.