ValuEngine Downgrades KVH Industries (NASDAQ:KVHI) to Hold

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ValuEngine cut shares of KVH Industries (NASDAQ:KVHI) from a buy rating to a hold rating in a research note published on Thursday morning, ValuEngine reports.

Other equities analysts have also recently issued reports about the company. Chardan Capital set a $25.00 target price on Tocagen and gave the stock a buy rating in a report on Tuesday, May 14th. Needham & Company LLC reiterated a buy rating and issued a $200.00 target price (up from $140.00) on shares of Universal Display in a report on Friday, May 3rd. Raymond James set a $12.00 target price on KVH Industries and gave the stock a buy rating in a report on Friday, May 17th. B. Riley set a $13.00 target price on Audioeye and gave the stock a buy rating in a report on Monday, May 13th. Finally, Zacks Investment Research upgraded Garrett Motion from a sell rating to a hold rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $14.20.

Shares of KVHI stock opened at $10.39 on Thursday. KVH Industries has a 52 week low of $9.09 and a 52 week high of $13.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.78. The stock’s 50 day moving average is $10.00.

KVH Industries (NASDAQ:KVHI) last announced its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.06). The company had revenue of $39.97 million for the quarter, compared to analyst estimates of $42.06 million. KVH Industries had a negative return on equity of 4.30% and a negative net margin of 6.16%. On average, sell-side analysts expect that KVH Industries will post -0.27 earnings per share for the current fiscal year.

In related news, CEO Van Heyningen Martin Kits sold 2,676 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $9.40, for a total value of $25,154.40. Following the transaction, the chief executive officer now directly owns 841,105 shares in the company, valued at approximately $7,906,387. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 10,375 shares of company stock worth $101,534. 11.30% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of KVHI. Rhumbline Advisers increased its stake in shares of KVH Industries by 44.0% during the 4th quarter. Rhumbline Advisers now owns 22,987 shares of the communications equipment provider’s stock worth $237,000 after purchasing an additional 7,022 shares during the last quarter. BlackRock Inc. increased its stake in shares of KVH Industries by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,209,227 shares of the communications equipment provider’s stock worth $12,443,000 after purchasing an additional 19,010 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of KVH Industries by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 143,197 shares of the communications equipment provider’s stock worth $1,473,000 after purchasing an additional 7,300 shares during the last quarter. Bank of America Corp DE increased its stake in shares of KVH Industries by 37.4% during the 4th quarter. Bank of America Corp DE now owns 14,693 shares of the communications equipment provider’s stock worth $152,000 after purchasing an additional 3,999 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of KVH Industries by 565.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,458 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 2,938 shares during the last quarter. Institutional investors and hedge funds own 55.06% of the company’s stock.

About KVH Industries

KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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