Gilat Satellite Networks (NASDAQ:GILT) Reaches New 12-Month High – Should You Buy?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price reached a new 52-week high on Friday . The stock traded as high as $15.03 and last traded at $14.88, with a volume of 428300 shares trading hands. The stock had previously closed at $14.34.

Analysts Set New Price Targets

Several analysts have commented on the stock. Zacks Research downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Wall Street Zen downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gilat Satellite Networks in a research report on Saturday. Finally, Needham & Company LLC increased their target price on Gilat Satellite Networks from $8.50 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

Gilat Satellite Networks Stock Performance

The stock’s 50-day moving average price is $11.74 and its 200 day moving average price is $8.54. The firm has a market cap of $850.14 million, a P/E ratio of 38.10 and a beta of 0.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.17.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.17. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. The firm had revenue of $105.00 million for the quarter, compared to analyst estimates of $100.99 million. As a group, equities analysts predict that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GILT. USA Financial Formulas acquired a new position in shares of Gilat Satellite Networks during the 3rd quarter worth approximately $39,000. Blue Bell Private Wealth Management LLC bought a new position in shares of Gilat Satellite Networks in the first quarter valued at $67,000. McIlrath & Eck LLC grew its stake in shares of Gilat Satellite Networks by 383.1% in the third quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 4,586 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Gilat Satellite Networks during the third quarter worth $99,000. Finally, State of Wyoming bought a new stake in Gilat Satellite Networks during the first quarter worth $101,000. 35.72% of the stock is owned by institutional investors and hedge funds.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.