Barclays Lowers Viasat (NASDAQ:VSAT) Price Target to $9.00

Viasat (NASDAQ:VSAT) had its price target lowered by investment analysts at Barclays from $24.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the communications equipment provider’s stock. Barclays‘s price target suggests a potential upside of 31.77% from the stock’s current price.

Several other brokerages also recently commented on VSAT. JPMorgan Chase & Co. downgraded Viasat from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $15.00 in a research report on Tuesday, September 17th. Needham & Company LLC decreased their target price on Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Bank of America dropped their price target on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.33.

Viasat Trading Down 6.2 %

Viasat stock opened at $6.83 on Wednesday. Viasat has a 12-month low of $6.76 and a 12-month high of $29.11. The firm has a market capitalization of $876.90 million, a price-to-earnings ratio of -2.19 and a beta of 1.37. The firm has a 50 day moving average of $10.87 and a 200 day moving average of $14.43. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company earned ($6.16) earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, research analysts predict that Viasat will post -2.38 earnings per share for the current year.

Institutional Trading of Viasat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System grew its stake in shares of Viasat by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the communications equipment provider’s stock valued at $480,000 after buying an additional 600 shares during the period. Daiwa Securities Group Inc. increased its position in Viasat by 4.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 16,455 shares of the communications equipment provider’s stock worth $209,000 after purchasing an additional 667 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Viasat by 8.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the communications equipment provider’s stock valued at $166,000 after buying an additional 997 shares during the period. KBC Group NV boosted its position in Viasat by 63.7% during the 3rd quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 1,021 shares during the period. Finally, IMA Advisory Services Inc. increased its holdings in Viasat by 3.1% in the 2nd quarter. IMA Advisory Services Inc. now owns 40,775 shares of the communications equipment provider’s stock valued at $518,000 after purchasing an additional 1,223 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

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.