Viasat, Inc. (NASDAQ:VSAT – Get Free Report)’s stock price fell 4% during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $28.00 to $26.00. Morgan Stanley currently has an equal weight rating on the stock. Viasat traded as low as $13.44 and last traded at $13.46. 196,288 shares traded hands during trading, a decline of 84% from the average session volume of 1,242,490 shares. The stock had previously closed at $14.02.
VSAT has been the topic of several other reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Viasat from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, May 28th. Barclays reduced their price target on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 5th. Bank of America boosted their price target on shares of Viasat from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Viasat in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Viasat from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Viasat currently has an average rating of “Hold” and a consensus target price of $25.17.
Hedge Funds Weigh In On Viasat
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Viasat by 40.3% during the third quarter. Vanguard Group Inc. now owns 11,897,337 shares of the communications equipment provider’s stock worth $219,625,000 after purchasing an additional 3,417,316 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Viasat by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 802,096 shares of the communications equipment provider’s stock worth $14,807,000 after purchasing an additional 50,252 shares in the last quarter. Invesco Ltd. lifted its position in shares of Viasat by 68.0% during the third quarter. Invesco Ltd. now owns 1,133,429 shares of the communications equipment provider’s stock worth $20,923,000 after purchasing an additional 458,959 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Viasat during the third quarter worth approximately $518,000. Finally, CI Investments Inc. acquired a new position in shares of Viasat during the third quarter worth approximately $120,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.
Viasat Price Performance
The company has a quick ratio of 2.44, a current ratio of 2.68 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -1.50 and a beta of 1.36. The stock’s 50-day moving average price is $16.34 and its 200-day moving average price is $19.86.
Viasat (NASDAQ:VSAT – Get Free Report) last posted its quarterly earnings results on Tuesday, May 21st. The communications equipment provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.12). The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 24.95%. Equities research analysts anticipate that Viasat, Inc. will post -1.48 earnings per share for the current year.
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 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.