Brokerages Set Viasat, Inc. (NASDAQ:VSAT) PT at $22.33

Viasat, Inc. (NASDAQ:VSAT) has earned an average rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $22.33.

A number of equities research analysts have recently weighed in on VSAT shares. JPMorgan Chase & Co. lowered shares of Viasat from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. Morgan Stanley cut their price target on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Viasat in a report on Monday, June 17th. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Finally, Bank of America cut their price target on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 20th.

Viasat Stock Up 3.2 %

VSAT opened at $11.26 on Friday. The business’s fifty day simple moving average is $15.34 and its 200 day simple moving average is $15.83. Viasat has a 52 week low of $10.73 and a 52 week high of $29.11. The company has a quick ratio of 2.78, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The stock has a market cap of $1.42 billion, a PE ratio of -1.28 and a beta of 1.34.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.16. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The company’s revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.83) EPS. As a group, research analysts expect that Viasat will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Cpp Investment Board Private H sold 2,811,442 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.90, for a total value of $55,947,695.80. Following the completion of the transaction, the insider now owns 8,545,334 shares in the company, valued at $170,052,146.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Viasat

A number of hedge funds and other institutional investors have recently modified their holdings of VSAT. TFO Wealth Partners LLC grew its stake in shares of Viasat by 11,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock worth $47,000 after buying an additional 1,655 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Viasat in the second quarter worth approximately $29,000. GAMMA Investing LLC grew its position in Viasat by 176.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 1,772 shares during the period. PNC Financial Services Group Inc. increased its position in Viasat by 49.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock valued at $112,000 after acquiring an additional 1,335 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Viasat during the 2nd quarter valued at about $61,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

About Viasat

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 entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.