Viasat (NASDAQ:VSAT) Hits New 12-Month Low After Analysts Downgrade


Viasat, Inc. (NASDAQ: VSAT – Get a rating) hit a new 52-week low on Saturday after Morgan Stanley lowered its price target on the stock from $49.00 to $34.00. Morgan Stanley currently has an equal weight rating on the stock. Viasat traded as low as $27.83 and last traded at $28.15, with a volume of 611,421 shares traded in hands. The stock had previously closed at $30.63.

Several other research analysts have also recently commented on the VSAT. Needham & Company LLC lowered its price target on Viasat shares from $66.00 to $58.00 and set a “buy” rating for the company in a Thursday, May 26 research report. StockNews.com downgraded Viasat shares from a “hold” to a “sell” rating in a Friday, May 27 research report. B. Riley cut his price target on Viasat shares from $145.00 to $100.00 and placed a “buy” rating on the stock in a Tuesday, May 31 research note. TheStreet upgraded Viasat’s shares from a “c” rating to a “d” rating in a Wednesday, May 25 research note. Finally, Raymond James lowered his price target on Viasat shares from $58.00 to $51.00 in a Friday, May 27 research note. One research analyst rated the stock with a sell rating, one gave the stock a hold rating, and three gave the stock a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.75.

Several institutional investors have recently changed their stock portfolios. IMA Wealth Inc. increased its stake in Viasat shares by 6.1% in the first quarter. IMA Wealth Inc. now owns 55,580 shares of the communications equipment provider worth $2,712,000 after buying 3,186 additional shares in the last quarter. The Kentucky State Teachers’ Retirement System increased its stake in Viasat stock by 31.6% in the first quarter. The Kentucky State Teachers’ Retirement System now owns 9,987 shares of the communications equipment provider worth $487,000 after buying an additional 2,400 shares last quarter. BNP Paribas Arbitrage SA increased its stake in Viasat shares by 34.9% in the first quarter. BNP Paribas Arbitrage SA now owns 11,381 shares of the communications equipment supplier worth $555,000 after buying an additional 2,947 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Viasat in the first quarter at a value of $168,000. Finally, the Royal Bank of Canada increased its position in Viasat by 1.1% during the first quarter. Royal Bank of Canada now owns 76,123 shares of the communications equipment provider valued at $3,715,000 after acquiring an additional 791 shares in the last quarter. 83.19% of the shares are currently held by institutional investors.

The company has a quick ratio of 1.06, a current ratio of 1.50 and a debt ratio of 0.91. The company has a market capitalization of $2.10 billion, a P/E ratio of -134.05 and a beta of 1.18. The stock’s 50-day simple moving average is $36.34 and its 200-day simple moving average is $42.53.

Viasat (NASDAQ:VSAT – Get a rating) last released its quarterly results on Wednesday, May 25. The communications equipment provider reported EPS of $0.06 for the quarter, beating analyst consensus estimates of ($0.06) by $0.12. The company posted revenue of $701.70 million for the quarter, compared to $724.40 million expected by analysts. Viasat had a negative net margin of 0.56% and a negative return on equity of 0.58%. The company’s quarterly revenue increased by 17.8% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.11. On average, research analysts expect Viasat, Inc. to post -0.34 earnings per share for the current fiscal year.

About Viasat (NASDAQ: VSAT)

Viasat, Inc provides broadband and communications products and services worldwide. The Company’s Satellite Services segment offers fixed broadband services via satellite, including high-speed Internet access and voice over Internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines; community internet services; mobile broadband services, including satellite internet services to power offshore vessels, cruise ships, consumer ferries and yachts; and energy services, which include ultra-secure IP connectivity solutions, bandwidth-optimized over-the-top applications, industrial Internet of Things big data enablement, and machine learning analytics at the forefront of the industry.

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