Gilat Satellite Networks (NASDAQ:GILT) Stock Rating Upgraded by Freedom Capital

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by Freedom Capital from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

GILT has been the subject of a number of other reports. Wall Street Zen raised shares of Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Gilat Satellite Networks in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Gilat Satellite Networks Price Performance

GILT opened at $13.77 on Thursday. The firm has a market capitalization of $787.81 million, a P/E ratio of 41.73 and a beta of 0.82. The stock has a fifty day moving average of $15.33 and a 200-day moving average of $12.79. The company has a quick ratio of 1.45, a current ratio of 1.84 and a debt-to-equity ratio of 0.14. Gilat Satellite Networks has a 12-month low of $5.30 and a 12-month high of $20.38.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The firm had revenue of $136.96 million for the quarter, compared to analyst estimates of $133.56 million. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%. Equities analysts forecast that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors and hedge funds have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd increased its position in Gilat Satellite Networks by 118.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock worth $51,992,000 after buying an additional 2,250,000 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of 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 worth $15,533,000 after acquiring an additional 1,064,959 shares in the last quarter. CSM Advisors LLC acquired a new position in shares of Gilat Satellite Networks during the 2nd quarter valued at about $6,214,000. UBS Group AG raised its stake in shares of Gilat Satellite Networks by 613.4% in the 3rd quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider’s stock valued at $12,545,000 after acquiring an additional 828,489 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Gilat Satellite Networks by 995.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 907,794 shares of the communications equipment provider’s stock worth $11,755,000 after purchasing an additional 824,949 shares during the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

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.