Gilat Satellite Networks (NASDAQ:GILT) Upgraded by Freedom Capital to “Strong-Buy” Rating

Freedom Capital upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a hold rating to a strong-buy rating in a report released on Thursday,Zacks.com reports.

GILT has been the topic of several other reports. Weiss Ratings restated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday. Finally, Wall Street Zen upgraded Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research note on Saturday. One 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Gilat Satellite Networks Stock Performance

Shares of NASDAQ GILT opened at $13.77 on Thursday. Gilat Satellite Networks has a 12 month low of $5.30 and a 12 month high of $20.38. The company has a market cap of $787.81 million, a P/E ratio of 41.73 and a beta of 0.82. The business’s 50 day moving average is $15.33 and its two-hundred day moving average is $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 (NASDAQ:GILT) last posted its quarterly earnings data 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. 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 analysts’ expectations of $133.56 million. On average, equities analysts expect that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Trading of Gilat Satellite Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC bought a new position in Gilat Satellite Networks during the second quarter worth about $908,000. CSM Advisors LLC bought a new stake in shares of Gilat Satellite Networks in the 2nd quarter valued at approximately $6,214,000. Cetera Investment Advisers acquired a new position in shares of Gilat Satellite Networks in the 2nd quarter worth approximately $191,000. Russell Investments Group Ltd. lifted its position in shares of Gilat Satellite Networks by 39.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 122,685 shares of the communications equipment provider’s stock worth $870,000 after buying an additional 34,810 shares during the period. Finally, Corsair Capital Management L.P. acquired a new stake in Gilat Satellite Networks in the 2nd quarter valued at $142,000. Institutional investors 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.