Viasat (NASDAQ:VSAT) Price Target Cut to $12.00 by Analysts at Morgan Stanley

Viasat (NASDAQ:VSAT) had its price objective cut by Morgan Stanley from $26.00 to $12.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the communications equipment provider’s stock.

A number of other equities research analysts have also issued reports on VSAT. Barclays cut their target price on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Cantor Fitzgerald assumed coverage on Viasat in a research note on Friday, January 24th. They set a “neutral” rating and a $12.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Viasat in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.43.

Viasat Price Performance

VSAT stock opened at $9.24 on Tuesday. The company has a market capitalization of $1.19 billion, a PE ratio of -2.96 and a beta of 1.35. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The stock’s 50 day moving average is $9.30 and its two-hundred day moving average is $12.02. Viasat has a 52-week low of $6.69 and a 52-week high of $26.70.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.53). Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company earned ($6.16) earnings per share. The company’s revenue was down 8.4% on a year-over-year basis. Analysts predict that Viasat will post -2.62 earnings per share for the current fiscal year.

Insider Transactions at Viasat

In related news, EVP Mark J. Miller sold 3,564 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.21, for a total value of $32,824.44. Following the sale, the executive vice president now owns 350,351 shares of the company’s stock, valued at $3,226,732.71. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VSAT. National Bank of Canada FI acquired a new position in shares of Viasat during the third quarter worth approximately $27,000. Point72 Hong Kong Ltd acquired a new position in Viasat during the 3rd quarter worth $28,000. KBC Group NV boosted its position in Viasat by 63.7% during the 3rd quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 1,021 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Viasat during the fourth quarter valued at $31,000. Finally, GAMMA Investing LLC raised its stake in shares of Viasat by 176.3% during the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 1,772 shares in the last quarter. Institutional investors own 86.05% of the company’s stock.

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.