KVH Industries (NASDAQ:KVHI) Price Target Cut to $11.00

KVH Industries (NASDAQ:KVHI) had its price target reduced by equities researchers at Raymond James from $13.00 to $11.00 in a report released on Monday, May 6th, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the communications equipment provider’s stock. Raymond James’ target price indicates a potential upside of 18.41% from the stock’s previous close.

Several other research firms also recently commented on KVHI. ValuEngine raised KVH Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 11th. B. Riley assumed coverage on KVH Industries in a research report on Wednesday, March 6th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price (down previously from $14.00) on shares of KVH Industries in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $14.20.

KVHI traded up $0.08 on Monday, hitting $9.29. 82,984 shares of the company were exchanged, compared to its average volume of 30,734. KVH Industries has a 12 month low of $9.09 and a 12 month high of $14.15. The firm has a market capitalization of $164.68 million, a PE ratio of -77.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.18.

KVH Industries (NASDAQ:KVHI) last announced its quarterly 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 business had revenue of $39.97 million for the quarter, compared to analyst estimates of $42.06 million. KVH Industries had a negative return on equity of 4.30% and a negative net margin of 6.16%. On average, research analysts forecast that KVH Industries will post -0.22 earnings per share for the current year.

In other KVH Industries news, CEO Van Heyningen Martin Kits sold 3,293 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $10.21, for a total transaction of $33,621.53. Following the completion of the sale, the chief executive officer now directly owns 809,567 shares in the company, valued at $8,265,679.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 15,015 shares of company stock valued at $155,650 over the last 90 days. Corporate insiders own 11.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in KVH Industries by 0.7% during the 3rd quarter. BlackRock Inc. now owns 1,190,217 shares of the communications equipment provider’s stock worth $15,592,000 after acquiring an additional 8,427 shares during the period. Dimensional Fund Advisors LP grew its holdings in KVH Industries by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,315,609 shares of the communications equipment provider’s stock worth $17,234,000 after acquiring an additional 11,527 shares during the period. Renaissance Technologies LLC grew its holdings in KVH Industries by 2.0% during the 3rd quarter. Renaissance Technologies LLC now owns 386,000 shares of the communications equipment provider’s stock worth $5,057,000 after acquiring an additional 7,600 shares during the period. Vanguard Group Inc grew its holdings in KVH Industries by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 669,605 shares of the communications equipment provider’s stock worth $8,772,000 after acquiring an additional 4,081 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of KVH Industries by 44.0% in the 4th quarter. Rhumbline Advisers now owns 22,987 shares of the communications equipment provider’s stock valued at $237,000 after buying an additional 7,022 shares during the period. 55.06% of the stock is owned by institutional investors and hedge funds.

About KVH Industries

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.

Featured Article: Why is the ROA ratio important?

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.