TD Cowen Cuts Echostar (NASDAQ:ECHO) Price Target to $130.00

Echostar (NASDAQ:ECHO) had its price target decreased by TD Cowen from $155.00 to $130.00 in a research report released on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other research firms have also weighed in on ECHO. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Echostar in a research note on Wednesday, July 15th. New Street Research set a $165.00 target price on shares of Echostar in a research report on Monday, June 15th. Williams Trading set a $155.00 price target on shares of Echostar in a report on Monday, May 18th. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research report on Friday, July 17th. Finally, Weiss Ratings began coverage on shares of Echostar in a research note on Monday, July 6th. They set a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

Echostar Stock Down 0.8%

Shares of NASDAQ ECHO opened at $87.03 on Tuesday. Echostar has a twelve month low of $26.47 and a twelve month high of $147.25. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of -3.49 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 0.27.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. The firm had revenue of $3.67 billion for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. As a group, sell-side analysts expect that Echostar will post 23.53 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the sale, the chief executive officer owned 865,633 shares of the company’s stock, valued at $104,741,593. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Echostar

Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of Echostar by 4.1% during the 1st quarter. Parallel Advisors LLC now owns 2,089 shares of the company’s stock worth $245,000 after purchasing an additional 83 shares during the period. Diversified Trust Co lifted its stake in shares of Echostar by 0.4% in the 1st quarter. Diversified Trust Co now owns 22,845 shares of the company’s stock valued at $2,674,000 after purchasing an additional 84 shares during the period. HB Wealth Management LLC boosted its holdings in Echostar by 2.0% during the fourth quarter. HB Wealth Management LLC now owns 4,933 shares of the company’s stock worth $536,000 after buying an additional 98 shares in the last quarter. Strs Ohio boosted its holdings in Echostar by 0.5% during the first quarter. Strs Ohio now owns 19,100 shares of the company’s stock worth $2,236,000 after buying an additional 100 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Echostar by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company’s stock valued at $611,000 after buying an additional 114 shares during the period. 33.62% of the stock is owned by hedge funds and other institutional investors.

About Echostar

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.