Viasat (NASDAQ:VSAT) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Viasat (NASDAQ:VSAT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

VSAT has been the topic of several other research reports. Raymond James Financial set a $74.00 price target on shares of Viasat and gave the stock an “outperform” rating in a research report on Friday, April 24th. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $97.00 target price on shares of Viasat in a report on Monday, June 1st. New Street Research began coverage on Viasat in a research report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Oppenheimer initiated coverage on Viasat in a research report on Monday, June 29th. They set an “outperform” rating and a $140.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.78.

Viasat Stock Down 2.0%

Shares of NASDAQ:VSAT opened at $80.38 on Friday. The company has a current ratio of 1.68, a quick ratio of 2.19 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $72.29 and a 200 day simple moving average of $60.71. The firm has a market cap of $11.07 billion, a PE ratio of -334.92 and a beta of 1.72. Viasat has a 12-month low of $24.95 and a 12-month high of $93.03.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) earnings per share. On average, equities research analysts anticipate that Viasat will post -0.28 EPS for the current fiscal year.

Insider Activity at Viasat

In other news, Director Theresa Wise sold 2,500 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. Following the sale, the director directly owned 11,000 shares in the company, valued at approximately $759,000. This represents a 18.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Garrett L. Chase sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $62.41, for a total value of $249,640.00. Following the transaction, the chief financial officer owned 34,239 shares of the company’s stock, valued at $2,136,855.99. This represents a 10.46% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 448,319 shares of company stock valued at $29,383,832. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Viasat

Several institutional investors have recently modified their holdings of VSAT. Versant Capital Management Inc increased its holdings in shares of Viasat by 4.4% in the 2nd quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider’s stock worth $444,000 after acquiring an additional 207 shares during the period. Cetera Investment Advisers boosted its stake in Viasat by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider’s stock valued at $394,000 after purchasing an additional 217 shares during the period. Elevation Wealth Partners LLC boosted its stake in Viasat by 935.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 318 shares during the period. Vise Technologies Inc. grew its position in Viasat by 4.8% in the 4th quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock worth $257,000 after purchasing an additional 342 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Viasat by 1.8% in the fourth quarter. CWM LLC now owns 19,360 shares of the communications equipment provider’s stock valued at $667,000 after purchasing an additional 349 shares during the period. Institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.