Viasat, Inc. (NASDAQ:VSAT) Receives $20.83 Average Target Price from Analysts

Viasat, Inc. (NASDAQ:VSAT) has been given a consensus rating of “Hold” by the six analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.83.

A number of brokerages recently issued reports on VSAT. JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. Bank of America reduced their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Finally, Needham & Company LLC dropped their target price on Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 15th.

Insider Activity at Viasat

In other news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction dated 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 sale, the insider now directly owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Trading of Viasat

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Viasat by 2.9% during the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock worth $226,711,000 after buying an additional 348,166 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Viasat by 1.1% during the second quarter. Disciplined Growth Investors Inc. MN now owns 3,449,281 shares of the communications equipment provider’s stock worth $43,806,000 after buying an additional 36,681 shares during the period. Millennium Management LLC lifted its holdings in Viasat by 1,145.1% during the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock worth $10,369,000 after buying an additional 750,904 shares during the period. Bank of New York Mellon Corp lifted its holdings in Viasat by 25.7% during the second quarter. Bank of New York Mellon Corp now owns 796,368 shares of the communications equipment provider’s stock worth $10,114,000 after buying an additional 162,804 shares during the period. Finally, Cove Street Capital LLC lifted its holdings in shares of Viasat by 17.7% during the 1st quarter. Cove Street Capital LLC now owns 766,753 shares of the communications equipment provider’s stock valued at $13,871,000 after purchasing an additional 115,224 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Trading Down 1.0 %

NASDAQ VSAT opened at $9.50 on Wednesday. The business has a 50 day moving average price of $12.64 and a 200-day moving average price of $15.07. Viasat has a 52 week low of $9.37 and a 52 week high of $29.11. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -1.16 and a beta of 1.37. The company has a quick ratio of 2.78, a current ratio of 3.08 and a debt-to-equity ratio of 1.40.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.16. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned ($0.83) earnings per share. The business’s revenue was up 41.1% on a year-over-year basis. As a group, equities analysts expect that Viasat will post -1.5 earnings per share for the current fiscal year.

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.