KVH Industries, Inc. (NASDAQ:KVHI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, May 23rd.
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. “
Several other research firms also recently weighed in on KVHI. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of KVH Industries in a research note on Friday, May 12th. TheStreet cut KVH Industries from a “c” rating to a “d+” rating in a report on Thursday, March 2nd. Finally, Raymond James Financial, Inc. cut KVH Industries from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $11.00 to $9.00 in a report on Tuesday, March 28th.
KVH Industries (NASDAQ:KVHI) traded down 1.06% during mid-day trading on Tuesday, reaching $9.35. 30,721 shares of the company traded hands. The stock’s market capitalization is $159.17 million. The company’s 50-day moving average is $9.21 and its 200-day moving average is $9.67. KVH Industries has a 12-month low of $7.31 and a 12-month high of $12.75.
KVH Industries (NASDAQ:KVHI) last posted its quarterly earnings results on Tuesday, May 9th. The communications equipment provider reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.08. The business had revenue of $40.20 million for the quarter, compared to the consensus estimate of $39.58 million. KVH Industries had a positive return on equity of 2.17% and a negative net margin of 5.46%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. Equities analysts predict that KVH Industries will post ($0.01) earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in KVHI. Bank of Montreal Can boosted its position in shares of KVH Industries by 4,123.0% in the first quarter. Bank of Montreal Can now owns 11,951 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 11,668 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in KVH Industries during the first quarter worth about $108,000. Globeflex Capital L P raised its stake in KVH Industries by 17,702.7% in the first quarter. Globeflex Capital L P now owns 13,174 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 13,100 shares during the period. Russell Investments Group Ltd. raised its stake in KVH Industries by 26.6% in the first quarter. Russell Investments Group Ltd. now owns 13,311 shares of the communications equipment provider’s stock worth $112,000 after buying an additional 2,800 shares during the period. Finally, Genesee Valley Trust Co. raised its stake in KVH Industries by 12.5% in the first quarter. Genesee Valley Trust Co. now owns 14,421 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 1,606 shares during the period. 64.93% of the stock is owned by institutional investors and hedge funds.
About KVH Industries
KVH Industries, Inc is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets.
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