JPMorgan Chase & Co. Boosts ViaSat (VSAT) Price Target to $75.00

ViaSat (NASDAQ:VSAT) had its price objective lifted by JPMorgan Chase & Co. from $70.00 to $75.00 in a report issued on Monday. The brokerage currently has a neutral rating on the communications equipment provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of ViaSat from a hold rating to a sell rating in a research report on Saturday, December 9th. Royal Bank of Canada reaffirmed an underperform rating and issued a $46.00 target price (down from $48.00) on shares of ViaSat in a research report on Tuesday, November 21st. B. Riley reaffirmed a buy rating and issued a $89.00 target price on shares of ViaSat in a research report on Thursday, November 9th. Zacks Investment Research cut shares of ViaSat from a strong-buy rating to a hold rating in a research report on Tuesday, November 14th. Finally, Morgan Stanley began coverage on shares of ViaSat in a research report on Friday, December 15th. They issued an equal weight rating and a $78.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $74.20.

Shares of ViaSat (VSAT) opened at $68.36 on Monday. The firm has a market cap of $3,930.61, a price-to-earnings ratio of -96.28 and a beta of 0.80. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.38. ViaSat has a 12-month low of $57.75 and a 12-month high of $80.26.

ViaSat (NASDAQ:VSAT) last announced its quarterly earnings results on Thursday, February 8th. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $381.80 million during the quarter, compared to analysts’ expectations of $392.99 million. ViaSat had a negative net margin of 2.59% and a negative return on equity of 1.13%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. equities research analysts expect that ViaSat will post -0.98 earnings per share for the current fiscal year.

In other news, Director Jeffrey M. Nash sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $72.26, for a total value of $144,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Stenbit sold 800 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $74.86, for a total transaction of $59,888.00. Following the completion of the sale, the director now directly owns 10,400 shares of the company’s stock, valued at $778,544. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,500 shares of company stock valued at $1,357,897. Corporate insiders own 7.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in ViaSat by 1.9% during the 4th quarter. BlackRock Inc. now owns 5,732,578 shares of the communications equipment provider’s stock valued at $429,084,000 after acquiring an additional 107,174 shares during the period. State Street Corp lifted its position in ViaSat by 5.3% during the 2nd quarter. State Street Corp now owns 1,762,352 shares of the communications equipment provider’s stock valued at $116,669,000 after acquiring an additional 88,421 shares during the period. Dimensional Fund Advisors LP lifted its position in ViaSat by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,858 shares of the communications equipment provider’s stock valued at $57,585,000 after acquiring an additional 9,750 shares during the period. Fiduciary Management Inc. WI lifted its position in ViaSat by 78.2% during the 3rd quarter. Fiduciary Management Inc. WI now owns 779,160 shares of the communications equipment provider’s stock valued at $50,116,000 after acquiring an additional 341,875 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in ViaSat by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 619,405 shares of the communications equipment provider’s stock valued at $39,841,000 after acquiring an additional 7,241 shares during the period. 99.42% of the stock is owned by institutional investors.

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ViaSat Company Profile

ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.

Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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