Viasat (NASDAQ:VSAT) Given New $19.00 Price Target at Bank of America

Viasat (NASDAQ:VSAT) had its target price decreased by Bank of America from $31.00 to $19.00 in a research report sent to investors on Friday, Benzinga reports. Bank of America currently has a buy rating on the communications equipment provider’s stock.

VSAT has been the subject of a number of other reports. JPMorgan Chase & Co. cut Viasat from an overweight rating to a neutral rating and cut their price objective for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. Barclays lowered their target price on Viasat from $28.00 to $24.00 and set an equal weight rating for the company in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lowered their target price on Viasat from $23.00 to $22.00 and set a hold rating for the company in a research note on Tuesday, May 28th. Needham & Company LLC restated a buy rating and issued a $28.00 target price on shares of Viasat in a research note on Monday, June 17th. Finally, Morgan Stanley lowered their target price on Viasat from $28.00 to $26.00 and set an equal weight rating for the company in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Viasat currently has a consensus rating of Hold and an average target price of $22.33.

Viasat Stock Down 1.6 %

Shares of VSAT stock opened at $12.77 on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of -1.45 and a beta of 1.35. Viasat has a one year low of $11.76 and a one year high of $29.11. The stock has a fifty day moving average price of $16.85 and a 200 day moving average price of $16.38. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 2.78.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The business’s revenue was up 41.1% on a year-over-year basis. During the same period last year, the business earned ($0.83) earnings per share. Analysts predict that Viasat will post -1.34 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $19.90, for a total value of $55,947,695.80. Following the completion of the sale, the insider now directly owns 8,545,334 shares in the company, valued at $170,052,146.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Viasat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC increased its position in Viasat by 11,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock worth $47,000 after purchasing an additional 1,655 shares during the period. Quest Partners LLC acquired a new position in shares of Viasat during the 2nd quarter worth about $29,000. Tidemark LLC acquired a new position in shares of Viasat during the 4th quarter worth about $72,000. PNC Financial Services Group Inc. grew its position in shares of Viasat by 49.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock worth $112,000 after buying an additional 1,335 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Viasat during the 2nd quarter worth about $61,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

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.