Echostar (NASDAQ:ECHO) Price Target Raised to $160.00

Echostar (NASDAQ:ECHO) had its price objective hoisted by UBS Group from $150.00 to $160.00 in a report issued on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. began coverage on shares of Echostar in a report on Friday, October 16th. They set an “overweight” rating and a $144.00 price objective for the company. Morgan Stanley lowered their target price on shares of Echostar from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a report on Friday, July 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Echostar in a research report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $139.44.

Echostar Price Performance

Shares of NASDAQ ECHO traded up $4.70 during mid-day trading on Wednesday, reaching $94.62. The company’s stock had a trading volume of 4,398,858 shares, compared to its average volume of 4,326,460. The company has a market cap of $27.49 billion, a price-to-earnings ratio of -3.80 and a beta of 1.06. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. The firm’s fifty day simple moving average is $92.00. Echostar has a 52 week low of $65.76 and a 52 week high of $147.25.

Echostar (NASDAQ:ECHO) last issued its earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $4.90. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $3.00 million. Analysts anticipate that Echostar will post -0.27 EPS for the current fiscal year.

Insider Transactions at Echostar

In other Echostar news, Director William Wade sold 2,425 shares of Echostar stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total value of $221,839.00. Following the sale, the director owned 324 shares of the company’s stock, valued at $29,639.52. The trade was a 88.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 54.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Aberdeen Group plc grew its stake in shares of Echostar by 172.9% in the 3rd quarter. Aberdeen Group plc now owns 19,970 shares of the company’s stock worth $1,786,000 after buying an additional 12,653 shares in the last quarter. Allworth Financial LP lifted its position in Echostar by 39.2% in the third quarter. Allworth Financial LP now owns 934 shares of the company’s stock worth $84,000 after buying an additional 263 shares during the last quarter. Eurizon Capital SGR S.p.A. lifted its position in Echostar by 11.7% in the third quarter. Eurizon Capital SGR S.p.A. now owns 12,467 shares of the company’s stock worth $1,115,000 after buying an additional 1,305 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its stake in Echostar by 29.2% during the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 704 shares of the company’s stock worth $63,000 after buying an additional 159 shares during the period. Finally, Maryland State Retirement & Pension System boosted its stake in Echostar by 13.0% during the third quarter. Maryland State Retirement & Pension System now owns 8,354 shares of the company’s stock worth $747,000 after buying an additional 962 shares during the period. 33.62% of the stock is currently owned by institutional investors.

Echostar Company Profile

EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services.

The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.

Founded by Charlie Ergen in 1980, EchoStar initially focused on satellite technology and services.