Viasat, Inc. (NASDAQ:VSAT) Receives $18.33 Average Price Target from Analysts

Viasat, Inc. (NASDAQ:VSAT) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.33.

A number of brokerages have weighed in on VSAT. Needham & Company LLC reduced their price target on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $15.00 in a research note on Tuesday, September 17th. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Barclays decreased their price objective on Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Finally, Bank of America cut their target price on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 20th.

Insider Transactions at Viasat

In other news, EVP Mark J. Miller sold 3,564 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.21, for a total value of $32,824.44. Following the sale, the executive vice president now owns 350,351 shares of the company’s stock, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viasat

Institutional investors have recently added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN increased its holdings in shares of Viasat by 28.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,419,223 shares of the communications equipment provider’s stock worth $52,766,000 after buying an additional 969,942 shares in the last quarter. Millennium Management LLC increased its holdings in Viasat by 1,145.1% during the 2nd quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock valued at $10,369,000 after purchasing an additional 750,904 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Viasat in the 2nd quarter valued at $3,531,000. State Street Corp boosted its stake in Viasat by 6.6% in the third quarter. State Street Corp now owns 4,445,811 shares of the communications equipment provider’s stock worth $53,083,000 after purchasing an additional 276,376 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Viasat by 63.6% during the second quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock worth $8,181,000 after purchasing an additional 250,389 shares during the last quarter. 86.05% of the stock is owned by institutional investors.

Viasat Trading Up 4.2 %

Viasat stock opened at $9.16 on Thursday. The business’s 50-day simple moving average is $9.42 and its 200-day simple moving average is $13.15. Viasat has a 52 week low of $6.69 and a 52 week high of $29.11. The firm has a market capitalization of $1.18 billion, a PE ratio of -2.94 and a beta of 1.34. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($6.16) earnings per share. Equities research analysts forecast that Viasat will post -2.38 earnings per share for the current year.

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 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.