Inmarsat (LON:ISAT) was downgraded by stock analysts at Goldman Sachs Group to a “neutral” rating in a report issued on Monday. They presently have a GBX 580 ($7.81) price target on the stock, down from their previous price target of GBX 860 ($11.57). Goldman Sachs Group’s price objective suggests a potential upside of 30.13% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Jefferies Group cut their target price on shares of Inmarsat from GBX 1,245 ($16.76) to GBX 1,100 ($14.80) and set a “buy” rating for the company in a research report on Friday, September 8th. Deutsche Bank reaffirmed a “buy” rating and issued a GBX 1,010 ($13.59) target price on shares of Inmarsat in a research report on Wednesday, October 11th. Morgan Stanley cut their target price on shares of Inmarsat from GBX 760 ($10.23) to GBX 620 ($8.34) and set an “equal weight” rating for the company in a research report on Tuesday, November 14th. Barclays raised shares of Inmarsat to an “equal weight” rating and cut their target price for the stock from GBX 695 ($9.35) to GBX 600 ($8.08) in a research report on Friday, November 17th. Finally, HSBC cut their target price on shares of Inmarsat from GBX 820 ($11.04) to GBX 720 ($9.69) and set a “hold” rating for the company in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Inmarsat currently has an average rating of “Hold” and an average target price of GBX 702.78 ($9.46).
Shares of Inmarsat (LON:ISAT) opened at GBX 445.70 ($6.00) on Monday. Inmarsat has a 1 year low of GBX 442 ($5.95) and a 1 year high of GBX 865 ($11.64).
In other news, insider Abe Peled bought 8,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were bought at an average price of GBX 636 ($8.56) per share, for a total transaction of £50,880 ($68,479.14). Also, insider Rupert Pearce bought 19,260 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average price of GBX 519 ($6.99) per share, for a total transaction of £99,959.40 ($134,534.86).
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Inmarsat plc is a United Kingdom-based provider of global mobile satellite communications services. The Company’s segments include Maritime, Government, Enterprise, Aviation and Central Services. The Maritime segment focuses on commercial maritime services across the world. The Maritime segment includes the provision of broadband data and safety communications for all vessel sizes.
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