Viasat (NASDAQ:VSAT) Hits New 1-Year Low – Here’s What Happened

Shares of Viasat, Inc. (NASDAQ:VSAT) reached a new 52-week low during trading on Tuesday . The company traded as low as $7.17 and last traded at $7.17, with a volume of 8000 shares. The stock had previously closed at $7.28.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VSAT shares. Barclays cut their price objective on Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday. Bank of America decreased their price objective on shares of Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 20th. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $15.00 in a research note on Tuesday, September 17th. Finally, Needham & Company LLC dropped their target price on Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Viasat currently has an average rating of “Hold” and a consensus target price of $18.33.

Viasat Stock Up 1.5 %

The company has a fifty day moving average price of $10.71 and a two-hundred day moving average price of $14.38. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28.

Viasat (NASDAQ:VSAT) last announced its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the firm earned ($6.16) earnings per share. Equities analysts anticipate that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viasat

A number of institutional investors have recently modified their holdings of VSAT. Louisiana State Employees Retirement System raised its stake in shares of Viasat by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the communications equipment provider’s stock worth $480,000 after purchasing an additional 600 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Viasat by 4.2% in the second quarter. Daiwa Securities Group Inc. now owns 16,455 shares of the communications equipment provider’s stock worth $209,000 after buying an additional 667 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Viasat by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 997 shares in the last quarter. KBC Group NV lifted its stake in Viasat by 63.7% in the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 1,021 shares during the last quarter. Finally, IMA Advisory Services Inc. grew its position in Viasat by 3.1% in the second quarter. IMA Advisory Services Inc. now owns 40,775 shares of the communications equipment provider’s stock worth $518,000 after acquiring an additional 1,223 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.