Gilat Satellite Networks (NASDAQ:GILT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a buy rating to a strong-buy rating in a research note released on Saturday.

Several other brokerages also recently commented on GILT. Zacks Research upgraded shares of Gilat Satellite Networks to a “strong-buy” rating in a research report on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Gilat Satellite Networks in a research report on Saturday, September 27th. Finally, Needham & Company LLC raised their price target on Gilat Satellite Networks from $8.50 to $11.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.00.

Gilat Satellite Networks Stock Up 5.4%

Shares of NASDAQ GILT opened at $14.20 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The company has a market cap of $812.38 million, a P/E ratio of 36.41 and a beta of 0.58. Gilat Satellite Networks has a 52 week low of $4.82 and a 52 week high of $14.33. The business has a 50-day simple moving average of $10.15 and a two-hundred day simple moving average of $7.79.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $100.99 million. Research analysts anticipate that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CSM Advisors LLC bought a new stake in shares of Gilat Satellite Networks in the 2nd quarter worth approximately $6,214,000. Royce & Associates LP purchased a new position in Gilat Satellite Networks during the 1st quarter valued at $4,434,000. Penn Capital Management Company LLC bought a new position in Gilat Satellite Networks in the 1st quarter worth $2,755,000. LBP AM SA raised its holdings in Gilat Satellite Networks by 33.3% in the 2nd quarter. LBP AM SA now owns 566,075 shares of the communications equipment provider’s stock worth $4,013,000 after purchasing an additional 141,378 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Gilat Satellite Networks in the second quarter worth about $908,000. Institutional investors own 35.72% of the company’s stock.

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.