EchoStar (NASDAQ:SATS) Price Target Raised to $127.00

EchoStar (NASDAQ:SATS) had its price target raised by UBS Group from $125.00 to $127.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the communications equipment provider’s stock.

SATS has been the topic of a number of other reports. Zacks Research raised shares of EchoStar from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Morgan Stanley upgraded shares of EchoStar from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $82.00 to $110.00 in a research report on Wednesday, December 10th. Williams Trading set a $158.00 price target on shares of EchoStar in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.17.

EchoStar Stock Performance

Shares of SATS stock opened at $110.85 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.56 and a debt-to-equity ratio of 3.21. The stock has a 50 day simple moving average of $115.52 and a 200-day simple moving average of $88.39. The company has a market cap of $31.91 billion, a price-to-earnings ratio of -2.20 and a beta of 1.01. EchoStar has a 12-month low of $14.90 and a 12-month high of $132.25.

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 285,832 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $105.33, for a total value of $30,106,684.56. Following the sale, the chief executive officer directly owned 376,805 shares in the company, valued at $39,688,870.65. This represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 55.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EchoStar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new position in EchoStar during the fourth quarter worth $26,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of EchoStar during the third quarter valued at $28,000. CoreCap Advisors LLC purchased a new stake in EchoStar during the 4th quarter worth about $28,000. Rosenberg Matthew Hamilton purchased a new stake in EchoStar during the 4th quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in EchoStar in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Company Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.