Viasat (NASDAQ:VSAT) Price Target Lowered to $19.00 at Bank of America

Viasat (NASDAQ:VSAT) had its price target cut by investment analysts at Bank of America from $31.00 to $19.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Bank of America‘s target price would suggest a potential upside of 46.38% from the stock’s current price.

Several other research firms have also recently commented on VSAT. StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Viasat from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, May 28th. JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and cut their price target for the company from $29.00 to $15.00 in a research note on Tuesday. Barclays decreased their target price on Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Viasat in a research note on Monday, June 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.33.

Viasat Trading Up 3.3 %

NASDAQ:VSAT opened at $12.98 on Friday. Viasat has a 12-month low of $11.76 and a 12-month high of $29.11. The firm has a market cap of $1.63 billion, a PE ratio of -1.48 and a beta of 1.35. The company has a current ratio of 3.08, a quick ratio of 2.78 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average price of $16.97 and a 200 day moving average price of $16.47.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted ($0.83) EPS. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. Sell-side analysts anticipate that Viasat will post -1.34 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction of $55,947,695.80. Following the transaction, the insider now owns 8,545,334 shares in the company, valued at approximately $170,052,146.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Viasat

Large investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in Viasat in the second quarter valued at $29,000. TFO Wealth Partners LLC grew its holdings in shares of Viasat by 11,033.3% during the fourth 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. Point72 Asia Singapore Pte. Ltd. acquired a new position in Viasat in the 2nd quarter valued at about $61,000. Nisa Investment Advisors LLC purchased a new stake in Viasat during the 2nd quarter valued at approximately $67,000. Finally, Tidemark LLC acquired a new stake in Viasat during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.