Viasat (NASDAQ:VSAT) Price Target Raised to $10.00 at Barclays

Viasat (NASDAQ:VSAT) had its price target hoisted by Barclays from $9.00 to $10.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the communications equipment provider’s stock.

VSAT has been the subject of a number of other reports. Cantor Fitzgerald began coverage on Viasat in a research note on Friday, January 24th. They issued a “neutral” rating and a $12.00 price target for the company. Morgan Stanley cut their price objective on Viasat from $26.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. William Blair reissued a “market perform” rating on shares of Viasat in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of Viasat in a report on Monday, February 10th. Finally, StockNews.com raised Viasat from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.57.

Viasat Price Performance

VSAT opened at $8.67 on Wednesday. The business has a fifty day moving average of $9.32 and a 200 day moving average of $10.99. Viasat has a 52-week low of $6.69 and a 52-week high of $26.70. The company has a quick ratio of 1.60, a current ratio of 1.80 and a debt-to-equity ratio of 1.35. The stock has a market cap of $1.12 billion, a P/E ratio of -2.58 and a beta of 1.35.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.70). Viasat had a negative return on equity of 8.37% and a negative net margin of 9.49%. As a group, sell-side analysts anticipate that Viasat will post -0.54 EPS for the current year.

Insider Buying and Selling at Viasat

In other news, insider Cpp Investment Board Private H sold 3,750,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $9.00, for a total value of $33,750,000.00. Following the completion of the sale, the insider now directly owns 4,795,334 shares of the company’s stock, valued at approximately $43,158,006. The trade was a 43.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark J. Miller sold 3,564 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 350,351 shares of the company’s stock, valued at $3,226,732.71. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Viasat

Institutional investors and hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System grew its holdings in Viasat by 7.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 40,800 shares of the communications equipment provider’s stock valued at $487,000 after buying an additional 3,000 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Viasat by 9.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 48,125 shares of the communications equipment provider’s stock worth $574,000 after buying an additional 3,978 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Viasat by 26.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,402 shares of the communications equipment provider’s stock worth $256,000 after buying an additional 4,468 shares during the period. Van ECK Associates Corp raised its position in shares of Viasat by 35.2% in the 3rd quarter. Van ECK Associates Corp now owns 28,711 shares of the communications equipment provider’s stock worth $343,000 after buying an additional 7,477 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of Viasat by 88.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 10,950 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 5,126 shares during the period. Institutional investors and hedge funds 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.