ViaSat (NASDAQ:VSAT) Downgraded by BidaskClub

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BidaskClub cut shares of ViaSat (NASDAQ:VSAT) from a buy rating to a hold rating in a report published on Saturday, BidAskClub reports.

A number of other research analysts also recently weighed in on VSAT. B. Riley increased their price target on ViaSat from $89.00 to $145.00 and gave the company a buy rating in a research note on Friday, April 26th. Bank of America reissued a buy rating and issued a $105.00 price target (up previously from $74.00) on shares of ViaSat in a research note on Monday, June 3rd. Zacks Investment Research downgraded ViaSat from a buy rating to a hold rating and set a $88.00 price target on the stock. in a research note on Monday, July 29th. ValuEngine downgraded ViaSat from a strong-buy rating to a buy rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC increased their price target on ViaSat from $78.00 to $100.00 and gave the company a buy rating in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $95.13.

VSAT stock opened at $76.80 on Friday. The company has a fifty day moving average of $82.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.34 and a current ratio of 1.83. The firm has a market cap of $4.71 billion, a P/E ratio of -67.96 and a beta of 0.86. ViaSat has a twelve month low of $55.93 and a twelve month high of $97.31.

ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 23rd. The communications equipment provider reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.29. The company had revenue of $557.20 million for the quarter, compared to the consensus estimate of $538.73 million. ViaSat had a negative return on equity of 3.47% and a negative net margin of 3.27%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) EPS. Analysts predict that ViaSat will post -0.21 EPS for the current year.

In related news, Director B Allen Lay sold 1,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $87.13, for a total transaction of $87,130.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kevin J. Harkenrider sold 17,500 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $81.78, for a total value of $1,431,150.00. Following the sale, the insider now directly owns 27,725 shares in the company, valued at approximately $2,267,350.50. The disclosure for this sale can be found here. Insiders have sold a total of 442,028 shares of company stock worth $39,546,239 in the last ninety days. 7.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in ViaSat by 0.9% during the 1st quarter. BlackRock Inc. now owns 6,670,017 shares of the communications equipment provider’s stock worth $516,927,000 after buying an additional 57,296 shares during the period. Geode Capital Management LLC increased its holdings in ViaSat by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 649,189 shares of the communications equipment provider’s stock worth $38,269,000 after purchasing an additional 66,470 shares in the last quarter. Norges Bank bought a new position in ViaSat during the 4th quarter worth about $30,846,000. Rhumbline Advisers increased its holdings in ViaSat by 2.2% during the 1st quarter. Rhumbline Advisers now owns 177,512 shares of the communications equipment provider’s stock worth $13,757,000 after purchasing an additional 3,890 shares in the last quarter. Finally, FMR LLC increased its holdings in ViaSat by 88.0% during the 1st quarter. FMR LLC now owns 119,229 shares of the communications equipment provider’s stock worth $9,240,000 after purchasing an additional 55,804 shares in the last quarter. 95.15% of the stock is currently owned by institutional investors and hedge funds.

ViaSat Company Profile

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband Internet access and voice over Internet protocol services to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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