KVH Industries Inc. (NASDAQ:KVHI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $9.25 target price on the stock. Zacks Investment Research’s price target would suggest a potential downside of 9.76% from the stock’s previous close.
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. “
KVH Industries (NASDAQ:KVHI) traded up 2.50% during trading on Wednesday, reaching $10.25. The company’s stock had a trading volume of 20,805 shares. The company has a market cap of $169.70 million, a price-to-earnings ratio of 49.52 and a beta of 0.86. KVH Industries has a 12 month low of $7.31 and a 12 month high of $10.25. The stock’s 50 day moving average is $8.82 and its 200 day moving average is $8.50.
KVH Industries (NASDAQ:KVHI) last announced its earnings results on Wednesday, November 2nd. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.18. KVH Industries had a return on equity of 7.10% and a net margin of 1.81%. The firm had revenue of $45.80 million for the quarter, compared to the consensus estimate of $45.63 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that KVH Industries will post $0.43 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in KVHI. Kennedy Capital Management Inc. acquired a new position in shares of KVH Industries during the first quarter worth $239,000. Keane Capital Partners LLC purchased a new position in KVH Industries during the first quarter valued at approximately $732,000. Genesee Valley Trust Co. increased its position in KVH Industries by 7.9% in the second quarter. Genesee Valley Trust Co. now owns 14,318 shares of the company’s stock valued at $110,000 after buying an additional 1,045 shares during the last quarter. GMT Capital Corp increased its position in KVH Industries by 19.2% in the second quarter. GMT Capital Corp now owns 880,307 shares of the company’s stock valued at $6,778,000 after buying an additional 141,986 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in KVH Industries by 33.7% in the second quarter. Nationwide Fund Advisors now owns 18,636 shares of the company’s stock valued at $143,000 after buying an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.
KVH Industries Company Profile
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.