Barclays Issues Pessimistic Forecast for Viasat (NASDAQ:VSAT) Stock Price

Viasat (NASDAQ:VSAT) had its target price dropped by 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 target price indicates a potential upside of 7.08% from the stock’s previous close.

Several other research firms have also issued reports on VSAT. StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Bank of America reduced their target price on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. lowered shares of 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. Finally, Needham & Company LLC decreased their price target on Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.33.

Viasat Trading Up 21.3 %

Shares of NASDAQ VSAT opened at $8.41 on Wednesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34. The stock has a market cap of $1.08 billion, a P/E ratio of -2.69 and a beta of 1.37. The firm has a 50-day moving average of $10.58 and a 200 day moving average of $14.34. Viasat has a 1 year low of $6.69 and a 1 year high of $29.11.

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

Hedge Funds Weigh In On Viasat

Institutional investors have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in shares of Viasat during the 3rd quarter worth approximately $27,000. Point72 Hong Kong Ltd purchased a new stake in shares of Viasat in the third quarter valued at about $28,000. Quest Partners LLC purchased a new stake in shares of Viasat in the 2nd quarter valued at approximately $29,000. KBC Group NV increased its stake in Viasat by 63.7% during the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 1,021 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Viasat by 176.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 1,772 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

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.