Gilat Satellite Networks (NASDAQ:GILT) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a hold rating to a buy rating in a report published on Saturday morning.

Several other brokerages also recently issued reports on GILT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Finally, Freedom Capital cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Gilat Satellite Networks Price Performance

NASDAQ:GILT opened at $13.77 on Friday. The company has a market cap of $787.78 million, a P/E ratio of 41.73 and a beta of 0.82. Gilat Satellite Networks has a 52-week low of $5.30 and a 52-week high of $20.38. The stock’s 50-day simple moving average is $15.33 and its 200 day simple moving average is $12.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.45 and a current ratio of 1.84.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%.The company had revenue of $136.96 million during the quarter, compared to the consensus estimate of $133.56 million. As a group, sell-side analysts forecast that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Several institutional investors have recently modified their holdings of the business. Yelin Lapidot Holdings Management Ltd. boosted its stake in shares of Gilat Satellite Networks by 275.4% in the 3rd quarter. Yelin Lapidot Holdings Management Ltd. now owns 681,549 shares of the communications equipment provider’s stock valued at $8,874,000 after purchasing an additional 500,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Gilat Satellite Networks by 62.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock valued at $14,206,000 after buying an additional 419,843 shares during the period. LBP AM SA increased its holdings in shares of Gilat Satellite Networks by 29.0% during the third quarter. LBP AM SA now owns 730,461 shares of the communications equipment provider’s stock valued at $9,511,000 after acquiring an additional 164,386 shares in the last quarter. Penserra Capital Management LLC increased its stake in Gilat Satellite Networks by 831.1% during the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after purchasing an additional 1,064,959 shares in the last quarter. Finally, CSM Advisors LLC bought a new stake in shares of Gilat Satellite Networks during the second quarter worth about $6,214,000. Institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.