ViaSat (VSAT) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of ViaSat (NASDAQ:VSAT) from a buy rating to a hold rating in a research report released on Friday, January 5th.

A number of other equities research analysts have also recently issued reports on VSAT. Jefferies Group set a $67.00 target price on ViaSat and gave the stock a hold rating in a research report on Sunday, September 10th. Royal Bank of Canada cut their price target on ViaSat from $50.00 to $48.00 and set an underperform rating for the company in a report on Thursday, October 5th. Zacks Investment Research upgraded ViaSat from a sell rating to a hold rating in a report on Wednesday, October 25th. B. Riley reiterated a buy rating and set a $89.00 price target on shares of ViaSat in a report on Thursday, November 9th. Finally, Needham & Company LLC upgraded ViaSat from a hold rating to a buy rating and set a $78.00 target price for the company in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $73.75.

ViaSat (NASDAQ VSAT) traded up $0.64 during trading hours on Friday, reaching $76.44. The company’s stock had a trading volume of 193,000 shares, compared to its average volume of 268,689. The company has a current ratio of 2.26, a quick ratio of 1.71 and a debt-to-equity ratio of 0.37. ViaSat has a 52 week low of $57.75 and a 52 week high of $76.69. The stock has a market cap of $4,451.65, a PE ratio of -364.00 and a beta of 0.78.

ViaSat (NASDAQ:VSAT) last announced its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business had revenue of $393.10 million during the quarter, compared to analysts’ expectations of $401.83 million. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. sell-side analysts forecast that ViaSat will post -0.98 EPS for the current year.

In related news, insider Keven K. Lippert sold 1,200 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.20, for a total value of $83,040.00. Following the transaction, the insider now owns 2,949 shares in the company, valued at $204,070.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $65.40, for a total value of $45,780.00. Following the completion of the transaction, the director now owns 10,300 shares in the company, valued at approximately $673,620. The disclosure for this sale can be found here. Insiders have sold 20,400 shares of company stock valued at $1,486,717 over the last quarter. Corporate insiders own 7.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN lifted its stake in ViaSat by 109.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,148,694 shares of the communications equipment provider’s stock valued at $76,044,000 after buying an additional 599,752 shares during the period. Hood River Capital Management LLC acquired a new position in ViaSat in the second quarter valued at about $29,147,000. Fiduciary Management Inc. WI acquired a new position in ViaSat in the second quarter valued at about $28,948,000. Odey Asset Management Group Ltd lifted its stake in ViaSat by 23.2% in the second quarter. Odey Asset Management Group Ltd now owns 2,148,954 shares of the communications equipment provider’s stock valued at $142,261,000 after buying an additional 404,251 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in ViaSat in the second quarter valued at about $18,403,000.

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ViaSat Company Profile

ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.

Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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