KVH Industries (NASDAQ:KVHI) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of KVH Industries (NASDAQ:KVHI) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “KVH Europe A/S is a wholly owned subsidiary of USA-based KVH Industries, Inc. KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than one lakhs mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. KVH Europe is the preferred supplier of marine satellite TV systems to leading powerboat builders like Sunseeker, Princess, Fairline, Rodriquez, Azimut, and Astondoa. KVH’s mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. “

A number of other equities research analysts also recently issued reports on KVHI. Chardan Capital set a $25.00 price objective on shares of Tocagen and gave the company a buy rating in a research report on Tuesday, May 14th. B. Riley set a $13.00 price objective on shares of Audioeye and gave the company a buy rating in a research report on Monday, May 13th. Raymond James set a $12.00 price objective on shares of KVH Industries and gave the company a buy rating in a research report on Friday, May 17th. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a buy rating and set a $200.00 price objective (up previously from $140.00) on shares of Universal Display in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $14.20.

Shares of KVHI opened at $10.24 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average is $10.12. KVH Industries has a 1-year low of $9.09 and a 1-year high of $13.20.

KVH Industries (NASDAQ:KVHI) last announced its earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). The company had revenue of $39.97 million for the quarter, compared to analysts’ expectations of $42.06 million. KVH Industries had a negative net margin of 6.16% and a negative return on equity of 4.30%. Sell-side analysts expect that KVH Industries will post -0.27 earnings per share for the current year.

In other news, CEO Van Heyningen Martin Kits sold 2,676 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $9.40, for a total transaction of $25,154.40. Following the completion of the sale, the chief executive officer now owns 841,105 shares of the company’s stock, valued at approximately $7,906,387. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 10,375 shares of company stock valued at $101,534. Insiders own 11.30% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its holdings in KVH Industries by 565.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,458 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 2,938 shares during the period. Bank of America Corp DE boosted its holdings in KVH Industries by 37.4% in the 4th quarter. Bank of America Corp DE now owns 14,693 shares of the communications equipment provider’s stock worth $152,000 after buying an additional 3,999 shares during the period. Rhumbline Advisers boosted its holdings in KVH Industries by 44.0% in the 4th quarter. Rhumbline Advisers now owns 22,987 shares of the communications equipment provider’s stock worth $237,000 after buying an additional 7,022 shares during the period. B. Riley Financial Inc. bought a new position in KVH Industries in the 1st quarter worth $255,000. Finally, White Pine Capital LLC bought a new position in KVH Industries in the 1st quarter worth $401,000. 55.06% of the stock is owned by institutional investors.

KVH Industries Company Profile

KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.

Recommended Story: What is a Leveraged Buyout (LBO)?

Get a free copy of the Zacks research report on KVH Industries (KVHI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for KVH Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KVH Industries and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit