ViaSat Inc. (NASDAQ:VSAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $84.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.53% from the company’s current price.
According to Zacks, “ViaSat has posted a decent earnings performance, beating estimates twice in the four trailing quarters, led by consistent strength of its Satellite Services and Government Systems segments. For the last reported quarter, steady growth in government and commercial air, in-flight Internet services, mobile broadband, consumer ARPU gains and cost reductions initiatives proved conducive to growth. Going forward, the company intends to expand its ViaSat-2 satellites and also launch ViaSat-3 satellites. These developments are expected to support and drive its growth momentum. ViaSat is also ramping up investments on its ViaSat-3 class satellites, which holds tremendous potential in the long run. However, on the flip side, strong competition and huge rise in research and development expenses will likely weigh on the company’s financials in the near term.”
Several other brokerages also recently commented on VSAT. Jefferies Group started coverage on shares of ViaSat in a research note on Monday, August 1st. They issued a “hold” rating and a $85.00 target price on the stock. B. Riley reissued a “buy” rating and set a $89.00 price objective on shares of ViaSat in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $73.80.
ViaSat (NASDAQ:VSAT) traded down 0.66% on Monday, hitting $74.16. 90,820 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $74.51 and a 200-day moving average price of $73.43. ViaSat has a 52-week low of $56.02 and a 52-week high of $79.15. The stock has a market cap of $3.66 billion, a P/E ratio of 173.27 and a beta of 0.97.
ViaSat (NASDAQ:VSAT) last issued its earnings results on Tuesday, August 9th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.26 by $0.03. ViaSat had a return on equity of 2.59% and a net margin of 1.46%. The firm earned $363.10 million during the quarter, compared to analysts’ expectations of $371.89 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts predict that ViaSat will post $1.20 earnings per share for the current fiscal year.
In other news, CEO Mark D. Dankberg sold 26,250 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $75.27, for a total transaction of $1,975,837.50. Following the sale, the chief executive officer now owns 26,250 shares in the company, valued at approximately $1,975,837.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Shawn Lynn Duffy sold 1,875 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $75.00, for a total transaction of $140,625.00. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its stake in shares of ViaSat by 71.0% in the second quarter. LS Investment Advisors LLC now owns 2,723 shares of the company’s stock worth $194,000 after buying an additional 1,131 shares during the period. CHICAGO TRUST Co NA acquired a new stake in shares of ViaSat during the second quarter worth approximately $202,000. Royal Bank of Canada boosted its stake in shares of ViaSat by 1,412.3% in the first quarter. Royal Bank of Canada now owns 2,828 shares of the company’s stock worth $208,000 after buying an additional 2,641 shares during the period. B. Riley Financial Inc. acquired a new stake in shares of ViaSat during the second quarter worth approximately $203,000. Finally, BlackRock Inc. boosted its stake in shares of ViaSat by 120.1% in the first quarter. BlackRock Inc. now owns 2,923 shares of the company’s stock worth $214,000 after buying an additional 1,595 shares during the period. Hedge funds and other institutional investors own 94.53% of the company’s stock.
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.
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