Gilat Satellite Networks Ltd. (NASDAQ:GILT) Stock Has Consensus Target Price of $20.00 According to Analysts

Gilat Satellite Networks Ltd. (NASDAQ:GILT) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $12.15.

Several equities analysts recently issued reports on GILT shares. William Blair lowered shares of Gilat Satellite Networks from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Gilat Satellite Networks in a research note on Monday, September 14th. Freedom Broker decreased their price objective on Gilat Satellite Networks from $18.40 to $13.30 and set a “buy” rating for the company in a report on Friday. Finally, Needham & Company LLC lowered their target price on Gilat Satellite Networks from $20.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday.

Gilat Satellite Networks Trading Down 2.4%

Shares of GILT traded down $0.14 during mid-day trading on Tuesday, reaching $5.59. 1,536,975 shares of the company were exchanged, compared to its average volume of 1,252,526. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 2.57. Gilat Satellite Networks has a 52 week low of $5.40 and a 52 week high of $20.93. The business has a 50 day simple moving average of $8.59 and a two-hundred day simple moving average of $13.27. The stock has a market capitalization of $412.71 million, a PE ratio of 13.63 and a beta of 1.15.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings results on Tuesday, November 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Gilat Satellite Networks had a net margin of 6.34% and a return on equity of 9.55%. The firm had revenue of $116.23 million for the quarter, compared to the consensus estimate of $126.54 million. On average, analysts predict that Gilat Satellite Networks will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Several institutional investors have recently made changes to their positions in GILT. Wellington Management Group LLP boosted its holdings in Gilat Satellite Networks by 6.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,094,623 shares of the communications equipment provider’s stock worth $14,569,000 after buying an additional 64,917 shares during the period. Van ECK Associates Corp lifted its stake in Gilat Satellite Networks by 47.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,799,354 shares of the communications equipment provider’s stock worth $23,949,000 after purchasing an additional 577,479 shares in the last quarter. Penn Capital Management Company LLC boosted its stake in Gilat Satellite Networks by 99.3% during the third quarter. Penn Capital Management Company LLC now owns 277,511 shares of the communications equipment provider’s stock valued at $2,739,000 after buying an additional 138,238 shares during the period. AWM Investment Company Inc. bought a new stake in Gilat Satellite Networks during the second quarter valued at approximately $13,792,000. Finally, Squarepoint Ops LLC grew its position in Gilat Satellite Networks by 488.5% in the second quarter. Squarepoint Ops LLC now owns 85,173 shares of the communications equipment provider’s stock worth $1,134,000 after acquiring an additional 70,701 shares in the last quarter. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is an Israel-based provider of satellite communications technology and services. Founded in 1987, the company develops equipment and network solutions that enable broadband connectivity in areas where terrestrial networks are limited or unavailable. Its offerings include very small aperture terminal (VSAT) equipment, satellite modems, hubs, gateways and network management systems. Gilat also provides satellite communications solutions for cellular backhaul, enterprise and rural broadband, in-flight and maritime connectivity, and government and defense applications.