Viasat (NASDAQ:VSAT) Price Target Raised to $81.00 at Bank of America

Viasat (NASDAQ:VSAT – Get Rating) had its target price upped by Bank of America from $79.00 to $81.00 in a research report issued to clients and investors on Friday, The Fly reports. Bank of America‘s price target suggests a potential upside of 82.27% from the company’s previous close.

Several other brokerages also recently issued reports on VSAT. Morgan Stanley cut their target price on shares of Viasat from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 23rd. William Blair downgraded shares of Viasat from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 26th. StockNews.com started coverage on shares of Viasat in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $44.00 target price on shares of Viasat in a research note on Wednesday, February 8th. Finally, Barclays cut their target price on shares of Viasat from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Viasat presently has an average rating of “Hold” and a consensus price target of $57.67.

Viasat Price Performance

NASDAQ VSAT opened at $44.44 on Friday. The stock has a market capitalization of $3.42 billion, a P/E ratio of 3.16 and a beta of 1.27. Viasat has a 1 year low of $25.38 and a 1 year high of $45.86. The business’s fifty day moving average is $35.56 and its two-hundred day moving average is $34.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.07 and a current ratio of 2.35.

Insider Buying and Selling

In related news, insider Craig Andrew Miller sold 735 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $45.00, for a total value of $33,075.00. Following the completion of the sale, the insider now directly owns 9,949 shares in the company, valued at $447,705. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 1,607 shares of company stock worth $63,644. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Viasat

A number of hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in Viasat by 188.7% during the first quarter. Ameriprise Financial Inc. now owns 290,482 shares of the communications equipment provider’s stock valued at $9,830,000 after acquiring an additional 189,867 shares during the period. Trivant Custom Portfolio Group LLC acquired a new position in shares of Viasat during the first quarter valued at about $42,000. Thrivent Financial for Lutherans raised its position in shares of Viasat by 275.9% during the first quarter. Thrivent Financial for Lutherans now owns 75,687 shares of the communications equipment provider’s stock valued at $2,561,000 after buying an additional 55,554 shares during the last quarter. IMA Wealth Inc. raised its position in shares of Viasat by 30.2% during the first quarter. IMA Wealth Inc. now owns 53,011 shares of the communications equipment provider’s stock valued at $1,794,000 after buying an additional 12,285 shares during the last quarter. Finally, State Street Corp raised its position in shares of Viasat by 15.2% during the first quarter. State Street Corp now owns 2,592,326 shares of the communications equipment provider’s stock valued at $87,724,000 after buying an additional 342,499 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

About Viasat

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ViaSat, Inc provides communications technologies and services. It operates through following segments: Satellite Services, Commercial Networks and Government Systems. The Satellite Services segment provides satellite-based high-speed broadband services with multiple applications to consumers, enterprises, and mobile broadband customers (including commercial airlines and maritime vessels) both in the United States and abroad.