EchoStar Co. (NASDAQ:SATS) Receives $19.25 Average Price Target from Analysts

EchoStar Co. (NASDAQ:SATS) has earned an average recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.25.

Several research analysts have recently commented on the company. UBS Group lifted their target price on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Raymond James downgraded shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. TD Cowen reduced their price target on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Morgan Stanley boosted their price objective on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th.

Insider Buying and Selling at EchoStar

In other EchoStar news, Chairman Charles W. Ergen bought 1,551,355 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average cost of $28.04 per share, for a total transaction of $43,499,994.20. Following the transaction, the chairman now directly owns 1,551,355 shares in the company, valued at $43,499,994.20. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 55.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SATS. Neo Ivy Capital Management acquired a new stake in shares of EchoStar in the third quarter valued at $272,000. Y Intercept Hong Kong Ltd acquired a new stake in EchoStar in the 3rd quarter valued at about $1,230,000. State Street Corp boosted its position in shares of EchoStar by 1.3% during the 3rd quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider’s stock valued at $118,546,000 after purchasing an additional 62,674 shares in the last quarter. Stonehill Capital Management LLC acquired a new position in shares of EchoStar in the 3rd quarter worth approximately $9,235,000. Finally, Darsana Capital Partners LP raised its holdings in shares of EchoStar by 44.8% in the 3rd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider’s stock worth $74,460,000 after purchasing an additional 927,695 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Stock Up 0.3 %

NASDAQ:SATS opened at $24.00 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of -2.62 and a beta of 0.69. EchoStar has a one year low of $11.32 and a one year high of $30.08. The stock has a 50-day simple moving average of $24.62 and a 200 day simple moving average of $21.37.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.