KVH Industries (NASDAQ:KVHI) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of KVH Industries (NASDAQ:KVHIGet Rating) from a hold rating to a buy rating in a report published on Saturday, Zacks.com reports. They currently have $8.25 price objective on the communications equipment provider’s stock.

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 research firms have also recently weighed in on KVHI. StockNews.com began coverage on shares of KVH Industries in a research note on Thursday, March 31st. They issued a hold rating on the stock. Raymond James dropped their target price on shares of KVH Industries from $16.00 to $13.00 and set a strong-buy rating on the stock in a research note on Wednesday, March 9th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, KVH Industries presently has an average rating of Buy and a consensus target price of $11.75.

KVHI opened at $7.30 on Friday. The stock has a market cap of $137.93 million, a price-to-earnings ratio of -13.04 and a beta of 0.70. KVH Industries has a twelve month low of $6.89 and a twelve month high of $14.59. The company’s 50-day moving average price is $8.43 and its two-hundred day moving average price is $9.01.

KVH Industries (NASDAQ:KVHIGet Rating) last released its earnings results on Tuesday, May 10th. The communications equipment provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. The firm had revenue of $41.09 million for the quarter, compared to analysts’ expectations of $41.40 million. KVH Industries had a negative net margin of 6.11% and a negative return on equity of 7.72%. On average, sell-side analysts expect that KVH Industries will post -0.34 EPS for the current year.

In other KVH Industries news, Director Cathy-Ann Martine-Dolecki purchased 10,000 shares of the stock in a transaction dated Wednesday, March 9th. The shares were bought at an average price of $9.22 per share, with a total value of $92,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 5,050 shares of company stock worth $46,561. Insiders own 13.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its holdings in KVH Industries by 120.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,144 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 2,261 shares during the period. Citigroup Inc. increased its holdings in KVH Industries by 141.2% during the 4th quarter. Citigroup Inc. now owns 4,171 shares of the communications equipment provider’s stock worth $38,000 after acquiring an additional 2,442 shares during the period. CWM LLC bought a new stake in KVH Industries during the 4th quarter worth approximately $59,000. Canandaigua National Corp increased its holdings in KVH Industries by 16.3% during the 4th quarter. Canandaigua National Corp now owns 12,614 shares of the communications equipment provider’s stock worth $116,000 after acquiring an additional 1,771 shares during the period. Finally, Bank of America Corp DE increased its holdings in KVH Industries by 30.9% during the 4th quarter. Bank of America Corp DE now owns 18,619 shares of the communications equipment provider’s stock worth $171,000 after acquiring an additional 4,396 shares during the period. 65.52% of the stock is currently owned by institutional investors and hedge funds.

About KVH Industries (Get Rating)

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 operates through Mobile Connectivity and Inertial Navigation segments. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard TracPhone terminals and hub equipment; data management software; and Iridium OpenPort hardware products and services.

Recommended Stories

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

Receive News & Ratings for KVH Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KVH Industries and related companies with MarketBeat.com's FREE daily email newsletter.