ViaSat (NASDAQ:VSAT) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of ViaSat (NASDAQ:VSAT) from a neutral rating to an overweight rating in a report published on Monday morning, Briefing.com Automated Import reports. They currently have $90.00 price objective on the communications equipment provider’s stock, up from their previous price objective of $84.00.

VSAT has been the subject of a number of other research reports. Zacks Investment Research cut shares of ViaSat from a strong-buy rating to a hold rating and set a $82.00 price target for the company. in a research note on Saturday. BidaskClub lowered shares of ViaSat from a sell rating to a strong sell rating in a report on Wednesday, October 23rd. ValuEngine lowered shares of ViaSat from a buy rating to a hold rating in a report on Wednesday, October 2nd. Needham & Company LLC lowered their price objective on shares of ViaSat to $90.00 and set a buy rating for the company in a report on Friday, November 8th. Finally, Raymond James upgraded shares of ViaSat from a market perform rating to an outperform rating and set a $88.00 price objective for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. ViaSat has an average rating of Hold and an average target price of $92.13.

VSAT stock traded down $0.09 during midday trading on Monday, reaching $74.00. The company had a trading volume of 431,903 shares, compared to its average volume of 449,049. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.51 and a quick ratio of 0.97. ViaSat has a 1 year low of $55.93 and a 1 year high of $97.31. The company has a market capitalization of $4.41 billion, a P/E ratio of -65.49 and a beta of 0.83. The firm has a 50-day moving average price of $70.72 and a 200-day moving average price of $80.19.

ViaSat (NASDAQ:VSAT) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.17. ViaSat had a negative net margin of 0.72% and a negative return on equity of 0.83%. The business had revenue of $592.26 million during the quarter, compared to analysts’ expectations of $568.66 million. On average, equities analysts predict that ViaSat will post 0.03 EPS for the current year.

In related news, EVP Keven K. Lippert sold 10,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $77.69, for a total transaction of $776,900.00. Following the completion of the sale, the executive vice president now directly owns 10,108 shares in the company, valued at approximately $785,290.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harvey White sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $75.71, for a total transaction of $75,710.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,500 shares of company stock valued at $1,837,198. Company insiders own 7.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC raised its holdings in ViaSat by 1.1% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 16,429 shares of the communications equipment provider’s stock valued at $1,237,000 after buying an additional 184 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in ViaSat by 1.3% during the 3rd quarter. Great Lakes Advisors LLC now owns 42,743 shares of the communications equipment provider’s stock valued at $3,219,000 after buying an additional 544 shares during the last quarter. Texas Permanent School Fund raised its holdings in ViaSat by 1.4% in the 3rd quarter. Texas Permanent School Fund now owns 39,218 shares of the communications equipment provider’s stock worth $2,954,000 after purchasing an additional 559 shares in the last quarter. Comerica Bank raised its holdings in ViaSat by 0.7% in the 3rd quarter. Comerica Bank now owns 32,875 shares of the communications equipment provider’s stock worth $2,303,000 after purchasing an additional 237 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in ViaSat by 32.3% in the 3rd quarter. California Public Employees Retirement System now owns 127,981 shares of the communications equipment provider’s stock worth $9,640,000 after purchasing an additional 31,247 shares in the last quarter. Institutional investors own 89.20% 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 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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