Analysts at StockNews.com initiated coverage on shares of Viasat (NASDAQ:VSAT – Get Rating) in a research report issued on Wednesday. The brokerage set a “hold” rating on the communications equipment provider’s stock.
Several other brokerages have also recently issued reports on VSAT. Needham & Company LLC decreased their target price on shares of Viasat from $58.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Raymond James reduced their price objective on shares of Viasat from $51.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 9th. Finally, Morgan Stanley reduced their price objective on shares of Viasat from $49.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Viasat has an average rating of “Moderate Buy” and an average target price of $56.50.
Viasat Stock Down 1.8 %
Shares of NASDAQ VSAT opened at $37.73 on Wednesday. The firm’s 50-day moving average price is $36.43 and its 200-day moving average price is $36.57. The company has a current ratio of 1.55, a quick ratio of 1.06 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -51.68 and a beta of 1.21. Viasat has a 12-month low of $25.38 and a 12-month high of $68.76.
Viasat (NASDAQ:VSAT – Get Rating) last announced its earnings results on Monday, August 8th. The communications equipment provider reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.20. The firm had revenue of $678.22 million for the quarter, compared to analysts’ expectations of $690.89 million. Viasat had a negative net margin of 1.93% and a negative return on equity of 2.01%. On average, equities research analysts anticipate that Viasat will post 0.14 EPS for the current fiscal year.
Hedge Funds Weigh In On Viasat
Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new position in shares of Viasat during the first quarter worth approximately $26,000. San Luis Wealth Advisors LLC purchased a new position in shares of Viasat during the first quarter worth approximately $43,000. Ronald Blue Trust Inc. purchased a new position in shares of Viasat during the second quarter worth approximately $48,000. Captrust Financial Advisors increased its position in shares of Viasat by 29.2% during the second quarter. Captrust Financial Advisors now owns 1,313 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 297 shares during the period. Finally, Pinebridge Investments L.P. purchased a new position in shares of Viasat during the first quarter worth approximately $69,000. 81.01% 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; community internet 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.