ViaSat (VSAT) Stock Rating Lowered by TheStreet

ViaSat (NASDAQ:VSAT) was downgraded by research analysts at TheStreet from a “c-” rating to a “d+” rating in a research report issued to clients and investors on Friday.

A number of other brokerages also recently commented on VSAT. BidaskClub upgraded ViaSat from a “hold” rating to a “buy” rating in a research report on Thursday, September 20th. Royal Bank of Canada set a $45.00 price objective on ViaSat and gave the stock a “sell” rating in a research report on Monday, June 11th. Zacks Investment Research downgraded ViaSat from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Needham & Company LLC reduced their price objective on ViaSat from $74.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, August 13th. Finally, ValuEngine downgraded ViaSat from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $69.38.

Shares of VSAT stock opened at $63.26 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.37 and a debt-to-equity ratio of 0.57. ViaSat has a 12 month low of $59.16 and a 12 month high of $80.26. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -73.56 and a beta of 0.81.

ViaSat (NASDAQ:VSAT) last announced its quarterly earnings data on Thursday, August 9th. The communications equipment provider reported ($0.57) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.07). ViaSat had a negative return on equity of 3.97% and a negative net margin of 5.58%. The firm had revenue of $438.90 million during the quarter, compared to the consensus estimate of $429.75 million. During the same quarter in the prior year, the business posted $0.04 EPS. ViaSat’s revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts forecast that ViaSat will post -1.66 EPS for the current year.

In related news, insider Kevin J. Harkenrider sold 10,866 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The stock was sold at an average price of $70.03, for a total transaction of $760,945.98. Following the completion of the transaction, the insider now owns 19,557 shares in the company, valued at approximately $1,369,576.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Stenbit sold 700 shares of ViaSat stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $70.22, for a total value of $49,154.00. Following the completion of the transaction, the director now owns 700 shares of the company’s stock, valued at approximately $49,154. The disclosure for this sale can be found here. Insiders have sold a total of 50,666 shares of company stock valued at $3,279,875 in the last 90 days. 8.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Partners Capital Investment Group LLP increased its stake in shares of ViaSat by 7.7% in the 2nd quarter. Partners Capital Investment Group LLP now owns 437,707 shares of the communications equipment provider’s stock valued at $28,766,000 after buying an additional 31,123 shares during the period. Rhumbline Advisers increased its stake in shares of ViaSat by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 104,858 shares of the communications equipment provider’s stock valued at $6,891,000 after buying an additional 1,089 shares during the period. Sei Investments Co. increased its stake in shares of ViaSat by 78.6% in the 2nd quarter. Sei Investments Co. now owns 20,120 shares of the communications equipment provider’s stock valued at $1,322,000 after buying an additional 8,854 shares during the period. Sylebra HK Co Ltd increased its stake in shares of ViaSat by 158.6% in the 2nd quarter. Sylebra HK Co Ltd now owns 1,304,806 shares of the communications equipment provider’s stock valued at $85,752,000 after buying an additional 800,248 shares during the period. Finally, Firsthand Capital Management Inc. increased its stake in shares of ViaSat by 100.0% in the 2nd quarter. Firsthand Capital Management Inc. now owns 80,000 shares of the communications equipment provider’s stock valued at $5,258,000 after buying an additional 40,000 shares during the period.

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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