ViaSat (VSAT) Downgraded by BidaskClub to Hold

BidaskClub cut shares of ViaSat (NASDAQ:VSAT) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other brokerages have also commented on VSAT. ValuEngine upgraded ViaSat from a hold rating to a buy rating in a research report on Thursday, August 9th. TheStreet upgraded ViaSat from a d+ rating to a c- rating in a research report on Thursday, July 19th. Royal Bank of Canada set a $45.00 price objective on ViaSat and gave the stock a sell rating in a research report on Monday, June 11th. William Blair reiterated a buy rating on shares of ViaSat in a research report on Saturday, June 2nd. Finally, Zacks Investment Research lowered ViaSat from a hold rating to a sell rating in a research report on Tuesday, August 21st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $69.38.

Shares of NASDAQ:VSAT opened at $62.90 on Wednesday. ViaSat has a twelve month low of $59.16 and a twelve month high of $80.26. The firm has a market capitalization of $3.78 billion, a PE ratio of -73.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.37 and a quick ratio of 0.88.

ViaSat (NASDAQ:VSAT) last announced its earnings results on Thursday, August 9th. The communications equipment provider reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.07). The business had revenue of $438.90 million during the quarter, compared to analyst estimates of $429.75 million. ViaSat had a negative net margin of 5.58% and a negative return on equity of 3.97%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. equities analysts anticipate that ViaSat will post -1.66 earnings per share for the current year.

In other ViaSat news, insider Kevin J. Harkenrider sold 10,866 shares of the firm’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $70.03, for a total transaction of $760,945.98. Following the transaction, the insider now owns 19,557 shares in the company, valued at $1,369,576.71. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John P. Stenbit sold 700 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $65.21, for a total value of $45,647.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,500 shares of company stock valued at $3,965,085. Corporate insiders own 8.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mason Street Advisors LLC boosted its holdings in ViaSat by 3.1% during the first quarter. Mason Street Advisors LLC now owns 27,506 shares of the communications equipment provider’s stock worth $1,808,000 after buying an additional 823 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in ViaSat by 14.8% during the second quarter. OppenheimerFunds Inc. now owns 7,333 shares of the communications equipment provider’s stock worth $482,000 after buying an additional 944 shares during the last quarter. Arizona State Retirement System boosted its holdings in ViaSat by 2.6% during the second quarter. Arizona State Retirement System now owns 38,036 shares of the communications equipment provider’s stock worth $2,500,000 after buying an additional 951 shares during the last quarter. Profund Advisors LLC boosted its holdings in ViaSat by 12.3% during the first quarter. Profund Advisors LLC now owns 8,746 shares of the communications equipment provider’s stock worth $575,000 after buying an additional 955 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in ViaSat by 4.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 21,374 shares of the communications equipment provider’s stock worth $1,405,000 after buying an additional 989 shares during the last quarter.

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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