Viasat (NASDAQ:VSAT) PT Lowered to $19.00

Viasat (NASDAQ:VSAT) had its price objective lowered by investment analysts at Bank of America from $31.00 to $19.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. Bank of America‘s price target would suggest a potential upside of 48.79% from the stock’s current price.

A number of other equities research analysts have also commented on VSAT. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Viasat in a report on Monday, June 17th. Morgan Stanley cut their price target on Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. StockNews.com downgraded Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Deutsche Bank Aktiengesellschaft dropped their target price on Viasat from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. cut shares of Viasat from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Viasat currently has an average rating of “Hold” and an average price target of $22.33.

Viasat Stock Down 1.6 %

Shares of NASDAQ:VSAT opened at $12.77 on Friday. The company has a 50 day moving average price of $16.85 and a two-hundred day moving average price of $16.41. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.78 and a current ratio of 3.08. The company has a market capitalization of $1.61 billion, a PE ratio of -1.45 and a beta of 1.35. Viasat has a 52 week low of $11.76 and a 52 week high of $29.11.

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

Insider Buying and Selling at Viasat

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat 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 completion of the transaction, the insider now directly owns 8,545,334 shares of the company’s stock, valued at $170,052,146.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Viasat

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 buying an additional 348,166 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Viasat by 1.1% in 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 period. Charles Schwab Investment Management Inc. grew its position in shares of 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 increased its holdings in shares of Viasat by 1,145.1% during 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 period. Finally, Bank of New York Mellon Corp raised its position 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 buying an additional 162,804 shares in the last quarter. 86.05% of the stock is currently owned by institutional investors.

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 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.