Echostar (NASDAQ:ECHO) Stock Rating Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded EchoStar from “hold” to “sell.” Other analyst views remain largely positive: MarketBeat reports a consensus “Buy” rating and a $139.44 average price target.
• EchoStar reported quarterly EPS of $7.97, above the $3.07 consensus estimate; its stock opened at $100 and was up 1.9% in the article’s report.
• Director William Wall bought 1,000 shares at an average price of $90.41, increasing his position by 40%.

Echostar (NASDAQ:ECHO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other brokerages have also recently weighed in on ECHO. JPMorgan Chase & Co. began coverage on Echostar in a research note on Friday, October 16th. They set an "overweight" rating and a $144.00 price objective on the stock. Weiss Ratings upgraded shares of Echostar from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Monday. TD Cowen reduced their target price on shares of Echostar from $155.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Morgan Stanley lowered their target price on shares of Echostar from $134.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, November 4th. Finally, Zacks Research raised shares of Echostar from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $139.44.

Echostar Stock Up 1.9%

ECHO stock opened at $100.00 on Friday. The company has a market capitalization of $29.10 billion, a price-to-earnings ratio of 14.43 and a beta of 1.06. The company has a quick ratio of 10.08, a current ratio of 10.16 and a debt-to-equity ratio of 0.57. Echostar has a twelve month low of $65.76 and a twelve month high of $147.25. The firm has a 50 day moving average of $93.40.

Echostar (NASDAQ:ECHO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $4.90. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $3.00 million. Echostar had a return on equity of 22.85% and a net margin of 81.29%. On average, equities research analysts anticipate that Echostar will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Echostar

In other Echostar news, Director William Wall bought 1,000 shares of Echostar stock in a transaction dated Thursday, November 5th. The stock was bought at an average cost of $90.41 per share, with a total value of $90,410.00. Following the completion of the acquisition, the director directly owned 3,500 shares in the company, valued at approximately $316,435. The trade was a 40.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 54.60% of the stock is owned by insiders.

Institutional Trading of Echostar

Hedge funds have recently bought and sold shares of the business. Atreides Management LP lifted its stake in Echostar by 11.0% in the first quarter. Atreides Management LP now owns 1,000,346 shares of the company's stock valued at $117,111,000 after purchasing an additional 99,262 shares during the last quarter. Resolute Advisors LLC bought a new position in Echostar during the second quarter valued at $3,774,000. BTG Pactual Asset Management US LLC bought a new position in Echostar during the second quarter valued at $4,568,000. Hennessy Advisors Inc. purchased a new stake in Echostar in the second quarter worth $48,405,000. Finally, Quantitative Investment Management LLC purchased a new stake in Echostar in the second quarter worth $1,541,000. 33.62% of the stock is currently owned by institutional investors.

About Echostar

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.

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