KVH Industries, Inc. (KVHI) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of KVH Industries, Inc. (NASDAQ:KVHI) in a research report report published on Friday, May 12th. They currently have a $10.00 price target on the communications equipment provider’s stock.

A number of other brokerages have also commented on KVHI. Raymond James Financial, Inc. lowered KVH Industries from a strong-buy rating to an outperform rating and decreased their price objective for the stock from $11.00 to $9.00 in a report on Tuesday, March 28th. TheStreet lowered KVH Industries from a c rating to a d+ rating in a report on Thursday, March 2nd. Finally, Zacks Investment Research lowered KVH Industries from a hold rating to a sell rating in a report on Thursday, March 30th.

KVH Industries (NASDAQ KVHI) traded down 3.61% during trading on Friday, reaching $9.35. The company’s stock had a trading volume of 97,884 shares. The firm’s market cap is $159.17 million. KVH Industries has a 52 week low of $7.31 and a 52 week high of $12.75. The stock’s 50 day moving average is $9.17 and its 200-day moving average is $9.69.

KVH Industries (NASDAQ:KVHI) last issued its earnings results on Tuesday, May 9th. The communications equipment provider reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. KVH Industries had a positive return on equity of 2.17% and a negative net margin of 5.46%. The business had revenue of $40.20 million during the quarter, compared to analyst estimates of $39.58 million. During the same period in the previous year, the company posted ($0.04) EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that KVH Industries will post ($0.01) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KVHI. Venator Capital Management Ltd. purchased a new position in KVH Industries during the third quarter worth approximately $2,776,000. Systematic Financial Management LP boosted its position in KVH Industries by 14.7% in the first quarter. Systematic Financial Management LP now owns 1,439,237 shares of the communications equipment provider’s stock worth $12,090,000 after buying an additional 184,636 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of KVH Industries by 1,397.7% in the first quarter. JPMorgan Chase & Co. now owns 158,192 shares of the communications equipment provider’s stock worth $1,328,000 after buying an additional 147,630 shares during the period. Thomson Horstmann & Bryant Inc. boosted its position in shares of KVH Industries by 88.8% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 230,074 shares of the communications equipment provider’s stock worth $1,932,000 after buying an additional 108,220 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of KVH Industries by 41.7% in the fourth quarter. Renaissance Technologies LLC now owns 343,100 shares of the communications equipment provider’s stock worth $4,049,000 after buying an additional 100,900 shares during the period. 64.93% of the stock is currently owned by institutional investors and hedge funds.

KVH Industries Company Profile

KVH Industries, Inc is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets.

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