Brokerages Set Echostar CORP (NASDAQ:ECHO) Price Target at $134.88

Echostar CORP (NASDAQ:ECHO) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $137.8750.

Several brokerages have issued reports on ECHO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price objective on shares of Echostar in a research note on Wednesday, July 15th. Morgan Stanley reissued an “overweight” rating and set a $134.00 target price on shares of Echostar in a research note on Monday. UBS Group upgraded shares of Echostar from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $127.00 to $150.00 in a report on Tuesday, September 8th. Weiss Ratings initiated coverage on shares of Echostar in a research report on Monday, July 6th. They set a “sell (d-)” rating on the stock. Finally, Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a report on Friday, July 17th.

Insider Transactions at Echostar

In other Echostar news, Director William Wade sold 2,425 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the completion of the sale, the director owned 324 shares in the company, valued at $29,639.52. This represents a 88.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Bye sold 8,508 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the transaction, the director directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. The trade was a 92.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,508 shares of company stock valued at $1,224,686. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC acquired a new stake in shares of Echostar during the second quarter worth $355,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Echostar during the second quarter worth about $8,101,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Echostar during the second quarter worth about $367,000. Tidal Investments LLC acquired a new position in Echostar in the 2nd quarter worth approximately $159,344,000. Finally, National Pension Service acquired a new position in Echostar in the 2nd quarter worth approximately $1,246,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Echostar Trading Down 0.7%

Shares of NASDAQ ECHO opened at $93.46 on Friday. The firm’s 50-day simple moving average is $89.74. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. The stock has a market cap of $27.15 billion, a PE ratio of -3.75 and a beta of 1.00. Echostar has a 12-month low of $65.76 and a 12-month high of $147.25.

Echostar (NASDAQ:ECHO) last issued its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The company 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%. On average, equities analysts predict that Echostar will post -1.35 EPS for the current fiscal year.

Echostar Company Profile

EchoStar Corporation is a global communications and technology company that provides satellite, broadband, and wireless connectivity services. Its operations include satellite communications, broadband internet, enterprise networking, and related technology solutions for consumers, businesses, and government customers.

Through its Hughes business, EchoStar provides satellite-based broadband services under the HughesNet brand, as well as managed network services, equipment, and connectivity solutions for residential and commercial users.