KVH Industries (KVHI) Cut to Hold at Zacks Investment Research

KVH Industries (KVHI) Cut to Hold at Zacks Investment Research

KVH Industries (NASDAQ:KVHI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “KVH Europe A/S is a wholly owned subsidiary of USA-based KVH Industries, Inc. KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than one lakhs mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. KVH Europe is the preferred supplier of marine satellite TV systems to leading powerboat builders like Sunseeker, Princess, Fairline, Rodriquez, Azimut, and Astondoa. KVH’s mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. “

A number of other brokerages have also recently issued reports on KVHI. ValuEngine cut shares of KVH Industries from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Raymond James set a $13.00 price objective on shares of KVH Industries and gave the stock a “buy” rating in a research note on Tuesday, March 5th. B. Riley assumed coverage on shares of KVH Industries in a research note on Wednesday, March 6th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective (down from $14.00) on shares of KVH Industries in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $14.00.

KVHI opened at $9.50 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 1.39. KVH Industries has a 1-year low of $9.16 and a 1-year high of $14.15. The company has a market capitalization of $170.13 million, a price-to-earnings ratio of -79.17 and a beta of 0.76.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings results on Friday, March 1st. The communications equipment provider reported ($0.03) earnings per share for the quarter. KVH Industries had a negative return on equity of 4.24% and a negative net margin of 6.16%. The business had revenue of $43.75 million during the quarter, compared to the consensus estimate of $46.08 million. On average, equities analysts anticipate that KVH Industries will post -0.15 EPS for the current year.

In related news, EVP Mark Woodhead sold 2,347 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $11.51, for a total transaction of $27,013.97. Following the completion of the transaction, the executive vice president now directly owns 37,831 shares of the company’s stock, valued at $435,434.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Van Heyningen Martin Kits sold 5,166 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $11.51, for a total transaction of $59,460.66. Following the transaction, the chief executive officer now directly owns 801,752 shares of the company’s stock, valued at $9,228,165.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,306 shares of company stock valued at $331,491. Corporate insiders own 11.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Moors & Cabot Inc. grew its stake in KVH Industries by 96.1% during the first quarter. Moors & Cabot Inc. now owns 199,936 shares of the communications equipment provider’s stock valued at $2,028,000 after acquiring an additional 97,968 shares in the last quarter. SPC Financial Inc. grew its stake in KVH Industries by 92.1% during the first quarter. SPC Financial Inc. now owns 41,610 shares of the communications equipment provider’s stock valued at $424,000 after acquiring an additional 19,955 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in KVH Industries by 565.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,458 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 2,938 shares in the last quarter. Geode Capital Management LLC grew its stake in KVH Industries by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 143,197 shares of the communications equipment provider’s stock valued at $1,473,000 after acquiring an additional 7,300 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in KVH Industries by 37.4% during the fourth quarter. Bank of America Corp DE now owns 14,693 shares of the communications equipment provider’s stock valued at $152,000 after acquiring an additional 3,999 shares in the last quarter. 54.56% of the stock is owned by institutional investors.

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.

Recommended Story: What is Cost of Goods Sold (COGS)?

Get a free copy of the Zacks research report on KVH Industries (KVHI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Related posts

Leave a Comment