Viasat (NASDAQ:VSAT) Price Target Lowered to $19.00 at Bank of America

Viasat (NASDAQ:VSAT) had its price objective decreased by Bank of America from $31.00 to $19.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Bank of America‘s price objective suggests a potential upside of 48.79% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Barclays decreased their price target on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 5th. Morgan Stanley cut their target price on Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Viasat in a research note on Monday, June 17th. Deutsche Bank Aktiengesellschaft cut their price objective on Viasat from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, May 28th. Finally, JPMorgan Chase & Co. downgraded shares of Viasat from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $15.00 in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.33.

Viasat Trading Down 1.6 %

Shares of VSAT opened at $12.77 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.78 and a current ratio of 3.08. Viasat has a 52-week low of $11.76 and a 52-week high of $29.11. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -1.45 and a beta of 1.35. The business’s fifty day moving average is $16.85 and its 200-day moving average is $16.41.

Viasat (NASDAQ:VSAT) last released its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.16. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The firm’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.83) EPS. Equities analysts anticipate that Viasat will post -1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the transaction, the insider now directly owns 8,545,334 shares of the company’s stock, valued at $170,052,146.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viasat

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Viasat by 2.9% during the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock worth $226,711,000 after purchasing an additional 348,166 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in Viasat by 1.1% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,449,281 shares of the communications equipment provider’s stock valued at $43,806,000 after purchasing an additional 36,681 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Viasat by 14.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 920,998 shares of the communications equipment provider’s stock worth $25,742,000 after purchasing an additional 118,902 shares in the last quarter. Millennium Management LLC raised its stake in shares of Viasat by 1,145.1% in the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock worth $10,369,000 after purchasing an additional 750,904 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Viasat by 25.7% in the second quarter. Bank of New York Mellon Corp now owns 796,368 shares of the communications equipment provider’s stock valued at $10,114,000 after purchasing an additional 162,804 shares in the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

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 and private business jets; satellite-based connectivity 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.