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

Viasat (NASDAQ:VSAT - Free Report) had its price target decreased by Barclays from $24.00 to $9.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the communications equipment provider's stock.

A number of other research firms have also commented on VSAT. JPMorgan Chase & Co. lowered Viasat from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $29.00 to $15.00 in a research report on Tuesday, September 17th. StockNews.com downgraded Viasat from a "hold" rating to a "sell" rating in a research note on Saturday, August 31st. Needham & Company LLC reduced their target price on Viasat from $28.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. Finally, Bank of America reduced 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.33.

Viasat Stock Performance

Shares of VSAT traded up $0.10 during mid-day trading on Wednesday, reaching $6.93. 2,363,582 shares of the stock traded hands, compared to its average volume of 1,819,380. The stock has a fifty day simple moving average of $10.87 and a 200 day simple moving average of $14.43. Viasat has a 12-month low of $6.69 and a 12-month high of $29.11. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted ($6.16) earnings per share. On average, equities research analysts predict that Viasat will post -2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its position in shares of Viasat by 1.6% during the second 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 last quarter. Daiwa Securities Group Inc. boosted its position in Viasat by 4.2% in the second quarter. Daiwa Securities Group Inc. now owns 16,455 shares of the communications equipment provider's stock valued at $209,000 after buying an additional 667 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Viasat by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the communications equipment provider's stock worth $166,000 after purchasing an additional 997 shares in the last quarter. KBC Group NV raised its stake in shares of 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 buying an additional 1,021 shares during the period. Finally, IMA Advisory Services Inc. raised its stake in shares of Viasat by 3.1% during the 2nd quarter. IMA Advisory Services Inc. now owns 40,775 shares of the communications equipment provider's stock worth $518,000 after buying an additional 1,223 shares during the period. 86.05% of the stock is currently owned by institutional investors.

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.