Echostar (NASDAQ:ECHO) Stock Bumped Down to “Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Echostar (NASDAQ:ECHO) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other analysts also recently commented on the stock. Weiss Ratings upgraded shares of Echostar from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, November 9th. JPMorgan Chase & Co. began coverage on shares of Echostar in a research note on Friday, October 16th. They set an “overweight” rating and a $144.00 price target for the company. UBS Group raised their price objective on shares of Echostar from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Zacks Research upgraded shares of Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Finally, Citigroup reduced their target price on shares of Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $139.44.

Echostar Stock Up 1.9%

NASDAQ:ECHO traded up $1.87 during mid-day trading on Friday, reaching $100.00. 5,170,551 shares of the stock were exchanged, compared to its average volume of 4,572,957. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.16 and a quick ratio of 10.08. Echostar has a 1 year low of $65.76 and a 1 year high of $147.25. The company has a 50 day moving average of $93.40. The firm has a market capitalization of $29.10 billion, a PE ratio of 3.65 and a beta of 1.06.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, beating the consensus estimate of $3.07 by $4.90. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $3.00 million. Echostar had a return on equity of 22.85% and a net margin of 81.29%. As a group, research analysts predict that Echostar will post -0.13 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Wall acquired 1,000 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $90.41 per share, with a total value of $90,410.00. Following the purchase, the director owned 3,500 shares of the company’s stock, valued at $316,435. This represents a 40.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 54.60% of the stock is currently owned by company insiders.

Institutional Trading of Echostar

Several hedge funds have recently made changes to their positions in the company. Atreides Management LP raised its holdings in Echostar by 11.0% during the first quarter. Atreides Management LP now owns 1,000,346 shares of the company’s stock worth $117,111,000 after purchasing an additional 99,262 shares during the last quarter. Resolute Advisors LLC purchased a new stake in Echostar during the second quarter worth $3,774,000. BTG Pactual Asset Management US LLC purchased a new stake in Echostar during the second quarter worth $4,568,000. Hennessy Advisors Inc. acquired a new stake in Echostar in the second quarter valued at $48,405,000. Finally, Quantitative Investment Management LLC acquired a new stake in Echostar in the second quarter valued at $1,541,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

About Echostar

EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services. The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.