KVH Industries (NASDAQ:KVHI) Downgraded by ValuEngine to Hold

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ValuEngine lowered shares of KVH Industries (NASDAQ:KVHI) from a buy rating to a hold rating in a report issued on Thursday, ValuEngine reports.

A number of other brokerages also recently commented on KVHI. Raymond James set a $12.00 price target on KVH Industries and gave the company a buy rating in a report on Friday, May 17th. Chardan Capital set a $25.00 price target on Tocagen and gave the company a buy rating in a report on Tuesday, May 14th. Zacks Investment Research raised Garrett Motion from a sell rating to a hold rating in a report on Friday, May 10th. 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, Needham & Company LLC reaffirmed a buy rating and set a $200.00 target price (up previously from $140.00) on shares of Universal Display in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. KVH Industries presently has an average rating of Buy and an average target price of $14.20.

KVHI traded up $0.12 on Thursday, reaching $10.22. The company’s stock had a trading volume of 854 shares, compared to its average volume of 31,880. The firm has a market cap of $182.73 million, a PE ratio of -85.17 and a beta of 0.87. KVH Industries has a 1 year low of $9.09 and a 1 year high of $13.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.18. The firm has a 50 day moving average of $9.99.

KVH Industries (NASDAQ:KVHI) last issued its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). The business had revenue of $39.97 million during the quarter, compared to analysts’ expectations of $42.06 million. KVH Industries had a negative net margin of 6.16% and a negative return on equity of 4.30%. Research analysts anticipate that KVH Industries will post -0.27 earnings per share for the current year.

In other KVH Industries news, CEO Van Heyningen Martin Kits sold 2,676 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $9.40, for a total transaction of $25,154.40. Following the transaction, the chief executive officer now owns 841,105 shares of the company’s stock, valued at approximately $7,906,387. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have sold 10,375 shares of company stock worth $101,534. 11.30% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its holdings in 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 buying an additional 2,938 shares during the last quarter. Bank of America Corp DE raised its position 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 period. Rhumbline Advisers raised its position 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 period. B. Riley Financial Inc. acquired a new stake in shares of KVH Industries during the 1st quarter worth approximately $255,000. Finally, White Pine Capital LLC acquired a new stake in shares of KVH Industries during the 1st quarter worth approximately $401,000. 55.06% of the stock is currently owned by institutional investors.

KVH Industries Company Profile

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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