ViaSat, Inc. (NASDAQ:VSAT) shares traded up 5.4% on Friday . The stock traded as high as $68.57 and last traded at $68.40. 946,768 shares changed hands during trading, an increase of 115% from the average session volume of 440,552 shares. The stock had previously closed at $64.90.
Several research analysts recently commented on the company. Needham & Company LLC raised ViaSat from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Friday. B. Riley reissued a “buy” rating and set a $89.00 price target on shares of ViaSat in a research report on Thursday. Zacks Investment Research raised ViaSat from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Royal Bank Of Canada reduced their price target on ViaSat from $50.00 to $48.00 and set an “underperform” rating for the company in a research report on Thursday, October 5th. Finally, Jefferies Group LLC set a $67.00 price target on ViaSat and gave the company a “hold” rating in a research report on Sunday, September 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.09.
The firm has a market capitalization of $3,983.41, a PE ratio of 1,368.00 and a beta of 0.74. The company has a current ratio of 2.26, a quick ratio of 1.44 and a debt-to-equity ratio of 0.54.
ViaSat (NASDAQ:VSAT) last announced its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The company had revenue of $393.10 million for the quarter, compared to analyst estimates of $401.83 million. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. sell-side analysts predict that ViaSat, Inc. will post -0.92 EPS for the current fiscal year.
In other news, insider Ken Allen Peterman sold 4,250 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $62.21, for a total transaction of $264,392.50. Following the transaction, the insider now owns 15,415 shares in the company, valued at $958,967.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark D. Dankberg sold 28,500 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $60.12, for a total value of $1,713,420.00. Following the transaction, the chief executive officer now owns 28,500 shares in the company, valued at approximately $1,713,420. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,350 shares of company stock worth $7,838,977. 7.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of ViaSat by 26.6% during the first quarter. Legal & General Group Plc now owns 35,347 shares of the communications equipment provider’s stock worth $2,254,000 after purchasing an additional 7,428 shares during the period. JPMorgan Chase & Co. increased its stake in ViaSat by 1,936.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,135 shares of the communications equipment provider’s stock worth $803,000 after acquiring an additional 11,539 shares during the period. BNP Paribas Arbitrage SA increased its stake in ViaSat by 123.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,641 shares of the communications equipment provider’s stock worth $1,764,000 after acquiring an additional 14,694 shares during the period. Fiduciary Management Inc. WI bought a new position in ViaSat during the 2nd quarter worth $28,948,000. Finally, Comerica Bank increased its stake in ViaSat by 27.5% during the 2nd quarter. Comerica Bank now owns 52,615 shares of the communications equipment provider’s stock worth $3,471,000 after acquiring an additional 11,334 shares during the period. Institutional investors own 99.57% of the company’s stock.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.