Viasat (VSAT) Downgraded by BidaskClub

BidaskClub cut shares of Viasat (NASDAQ:VSAT) from a hold rating to a sell rating in a research note issued to investors on Friday.

Other analysts have also issued reports about the company. JPMorgan Chase increased their target price on Viasat from $70.00 to $75.00 and gave the stock a neutral rating in a report on Monday, February 12th. Royal Bank of Canada set a $52.00 target price on Viasat and gave the stock a sell rating in a report on Tuesday, March 27th. Barclays lowered Viasat from an equal weight rating to an underweight rating and set a $75.00 target price on the stock. in a report on Thursday. Morgan Stanley started coverage on Viasat in a research report on Friday, December 15th. They set an equal weight rating and a $78.00 price objective for the company. Finally, Zacks Investment Research downgraded Viasat from a hold rating to a sell rating in a research report on Saturday, January 13th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Viasat presently has a consensus rating of Hold and an average price target of $74.30.

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VSAT opened at $65.72 on Friday. The firm has a market cap of $3,869.99, a PE ratio of 113.31 and a beta of 0.84. Viasat has a 52-week low of $57.75 and a 52-week high of $80.26. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.38.

Viasat (NASDAQ:VSAT) last released its earnings results on Thursday, February 8th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $381.80 million for the quarter, compared to analyst estimates of $392.99 million. Viasat had a negative return on equity of 1.13% and a negative net margin of 2.59%. Viasat’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 EPS. equities analysts forecast that Viasat will post -1.16 earnings per share for the current year.

In related news, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $69.86, for a total transaction of $48,902.00. Following the completion of the sale, the director now directly owns 10,300 shares in the company, valued at approximately $719,558. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John P. Stenbit sold 800 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $74.86, for a total value of $59,888.00. Following the sale, the director now owns 10,400 shares of the company’s stock, valued at $778,544. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,487 shares of company stock valued at $542,066. 7.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Sylebra HK Co Ltd bought a new position in Viasat in the fourth quarter valued at about $36,697,000. Disciplined Growth Investors Inc. MN raised its position in Viasat by 1.5% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,146,327 shares of the communications equipment provider’s stock valued at $85,803,000 after purchasing an additional 17,358 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Viasat in the fourth quarter valued at about $4,405,000. Metropolitan Life Insurance Co. NY bought a new position in Viasat in the fourth quarter valued at about $2,283,000. Finally, Jane Street Group LLC bought a new position in Viasat in the fourth quarter valued at about $740,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.

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About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers fixed broadband services, including broadband Internet access and voice over Internet protocol services under the Exede and WildBlue brands to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems; and enterprise broadband services.

Analyst Recommendations for Viasat (NASDAQ:VSAT)

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