Viasat (NASDAQ:VSAT) Price Target Cut to $120.00 by Analysts at JPMorgan Chase & Co.

Viasat (NASDAQ:VSAT) had its price objective cut by research analysts at JPMorgan Chase & Co. from $130.00 to $120.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 60.26% from the company’s previous close.

VSAT has been the topic of a number of other research reports. Wall Street Zen downgraded Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Thursday, October 15th. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Needham & Company LLC dropped their target price on Viasat from $105.00 to $85.00 and set a “buy” rating on the stock in a report on Friday. Finally, Raymond James Financial reissued an “outperform” rating and issued a $95.00 price target on shares of Viasat in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.56.

Viasat Trading Up 17.1%

Shares of VSAT stock traded up $10.93 during trading hours on Monday, reaching $74.88. 2,635,243 shares of the stock traded hands, compared to its average volume of 2,105,301. The company has a quick ratio of 1.49, a current ratio of 1.65 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $10.32 billion, a PE ratio of -103.81 and a beta of 1.76. Viasat has a 1-year low of $29.13 and a 1-year high of $93.03. The business has a fifty day moving average price of $69.77 and a 200 day moving average price of $64.26.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, November 5th. The communications equipment provider reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.10. Viasat had a negative net margin of 2.07% and a negative return on equity of 0.05%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company posted $0.09 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Viasat will post -0.38 EPS for the current year.

Insider Transactions at Viasat

In other Viasat news, SVP Craig Miller sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $70.19, for a total value of $1,579,275.00. Following the transaction, the senior vice president owned 41,570 shares in the company, valued at $2,917,798.30. The trade was a 35.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Garrett Chase sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $58.86, for a total value of $235,440.00. Following the sale, the chief financial officer directly owned 47,534 shares of the company’s stock, valued at $2,797,851.24. This trade represents a 7.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,098 shares of company stock worth $3,593,911 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Viasat

A number of institutional investors have recently added to or reduced their stakes in VSAT. Bessemer Group Inc. grew its position in Viasat by 2.1% during the third quarter. Bessemer Group Inc. now owns 284,613 shares of the communications equipment provider’s stock worth $20,030,000 after buying an additional 5,722 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Viasat by 14.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,799 shares of the communications equipment provider’s stock worth $126,000 after purchasing an additional 225 shares in the last quarter. Danske Bank A S increased its position in shares of Viasat by 14.4% during the third quarter. Danske Bank A S now owns 2,387 shares of the communications equipment provider’s stock valued at $168,000 after purchasing an additional 301 shares during the period. Clearwater Capital Advisors LLC bought a new stake in shares of Viasat during the third quarter valued at approximately $591,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Viasat by 56.3% in the third quarter. Russell Investments Group Ltd. now owns 118,242 shares of the communications equipment provider’s stock valued at $8,322,000 after purchasing an additional 42,610 shares in the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.

About Viasat

Viasat, Inc is a global communications company that designs, develops and operates satellite and wireless communications systems. Its services support consumers, businesses, governments and other organizations that need connectivity in areas where terrestrial networks may be limited.

The company provides satellite broadband for homes and businesses, in-flight connectivity for commercial and business aircraft, and communications services for maritime customers. Viasat also supplies secure communications, networking equipment and related services to government and defense customers.

Founded in 1986 and headquartered in Carlsbad, California, Viasat serves customers in the Americas and internationally.