ViaSat, Inc. (NASDAQ:VSAT) Receives $96.99 Average Price Target from Brokerages

ViaSat, Inc. (NASDAQ:VSAT) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $96.99.

VSAT has been the subject of a number of research analyst reports. B. Riley reissued a “buy” rating on shares of Skechers USA in a report on Friday, April 26th. Needham & Company LLC boosted their price target on ViaSat from $78.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Bank of America reissued a “buy” rating and set a $25.00 price target on shares of Infineon Technologies in a report on Monday, June 3rd. ValuEngine raised William Lyon Homes from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 10th. Finally, Zacks Investment Research raised Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th.

Shares of ViaSat stock traded down $1.88 during trading on Tuesday, reaching $81.29. 260,799 shares of the company’s stock were exchanged, compared to its average volume of 733,364. The company has a current ratio of 1.83, a quick ratio of 1.34 and a debt-to-equity ratio of 0.73. ViaSat has a 1-year low of $55.93 and a 1-year high of $97.31. The stock has a market cap of $4.93 billion, a P/E ratio of -71.94 and a beta of 0.85. The company has a 50-day simple moving average of $85.18.

ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 23rd. The communications equipment provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.29. ViaSat had a negative return on equity of 3.47% and a negative net margin of 3.27%. The company had revenue of $557.20 million during the quarter, compared to analysts’ expectations of $538.73 million. During the same quarter in the previous year, the firm earned ($0.34) EPS. ViaSat’s revenue was up 26.7% on a year-over-year basis. As a group, sell-side analysts anticipate that ViaSat will post -0.1 EPS for the current fiscal year.

In other ViaSat news, Director John P. Stenbit sold 1,250 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $83.79, for a total value of $104,737.50. Following the completion of the transaction, the director now owns 2,850 shares of the company’s stock, valued at approximately $238,801.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director B Allen Lay sold 1,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $81.27, for a total value of $81,270.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,528 shares of company stock valued at $38,124,709. Insiders own 8.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC increased its holdings in shares of ViaSat by 23.5% in the 4th quarter. LPL Financial LLC now owns 7,010 shares of the communications equipment provider’s stock valued at $413,000 after purchasing an additional 1,334 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ViaSat by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 619,174 shares of the communications equipment provider’s stock valued at $36,500,000 after purchasing an additional 7,057 shares in the last quarter. Northern Trust Corp increased its holdings in shares of ViaSat by 0.3% in the 4th quarter. Northern Trust Corp now owns 843,440 shares of the communications equipment provider’s stock valued at $49,720,000 after purchasing an additional 2,608 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of ViaSat by 4.7% in the 4th quarter. Great West Life Assurance Co. Can now owns 32,921 shares of the communications equipment provider’s stock valued at $1,800,000 after purchasing an additional 1,485 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of ViaSat by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 86,681 shares of the communications equipment provider’s stock valued at $5,110,000 after purchasing an additional 1,955 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

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 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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