ViaSat (NASDAQ:VSAT) Rating Lowered to Buy at BidaskClub

BidaskClub cut shares of ViaSat (NASDAQ:VSAT) from a strong-buy rating to a buy rating in a research note published on Saturday, BidAskClub reports.

A number of other analysts have also recently weighed in on VSAT. ValuEngine raised shares of ViaSat from a buy rating to a strong-buy rating in a research note on Wednesday, April 10th. B. Riley boosted their target price on shares of ViaSat from $89.00 to $145.00 and gave the stock a buy rating in a research note on Friday, April 26th. Zacks Investment Research raised shares of ViaSat from a hold rating to a buy rating and set a $101.00 target price on the stock in a research note on Monday, May 13th. Needham & Company LLC boosted their target price on shares of ViaSat from $78.00 to $100.00 and gave the stock a buy rating in a research note on Friday, May 24th. Finally, Raymond James cut shares of ViaSat from an outperform rating to a market perform rating and set a $90.92 target price on the stock. in a research note on Thursday, May 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. ViaSat has an average rating of Buy and a consensus target price of $96.99.

Shares of NASDAQ:VSAT opened at $81.87 on Friday. The company has a 50 day moving average price of $89.10. The company has a market capitalization of $5.03 billion, a PE ratio of -72.45 and a beta of 0.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.83 and a quick ratio of 1.34. ViaSat has a 1 year low of $55.93 and a 1 year high of $97.31.

ViaSat (NASDAQ:VSAT) last announced its quarterly earnings data on Thursday, May 23rd. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.29. The business had revenue of $557.20 million for the quarter, compared to analysts’ expectations of $538.73 million. ViaSat had a negative net margin of 3.27% and a negative return on equity of 3.47%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.34) earnings per share. As a group, sell-side analysts predict that ViaSat will post -0.1 EPS for the current fiscal year.

In other news, Director B Allen Lay sold 1,000 shares of ViaSat stock in a transaction on Monday, April 1st. The shares were sold at an average price of $78.04, for a total transaction of $78,040.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harvey White sold 3,770 shares of ViaSat stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $87.79, for a total transaction of $330,968.30. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $438,950. The disclosure for this sale can be found here. In the last quarter, insiders have sold 470,903 shares of company stock worth $41,735,777. 8.10% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of ViaSat by 26.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,679 shares of the communications equipment provider’s stock worth $2,793,000 after purchasing an additional 9,018 shares during the period. Comerica Bank grew its stake in shares of ViaSat by 2.1% in the fourth quarter. Comerica Bank now owns 36,273 shares of the communications equipment provider’s stock valued at $2,231,000 after buying an additional 740 shares in the last quarter. Nissay Asset Management Corp Japan ADV acquired a new stake in shares of ViaSat in the fourth quarter valued at about $512,000. LPL Financial LLC grew its stake in shares of ViaSat by 23.5% in the fourth quarter. LPL Financial LLC now owns 7,010 shares of the communications equipment provider’s stock valued at $413,000 after buying an additional 1,334 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of ViaSat by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,612,721 shares of the communications equipment provider’s stock valued at $389,817,000 after buying an additional 211,159 shares in the last quarter. Institutional investors own 96.49% of the company’s stock.

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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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