Gilat Satellite Networks (NASDAQ:GILT) Cut to Buy at StockNews.com

StockNews.com lowered shares of Gilat Satellite Networks (NASDAQ:GILT) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.

Gilat Satellite Networks Price Performance

GILT stock opened at $5.24 on Monday. The stock has a market capitalization of $298.78 million, a price-to-earnings ratio of 12.48 and a beta of 0.59. The firm’s 50-day moving average price is $5.85 and its two-hundred day moving average price is $6.07. The company has a current ratio of 1.90, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 12-month low of $4.51 and a 12-month high of $7.16.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $75.61 million for the quarter. Gilat Satellite Networks had a return on equity of 7.42% and a net margin of 8.83%.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. increased its position in Gilat Satellite Networks by 31.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 34,965 shares of the communications equipment provider’s stock valued at $308,000 after purchasing an additional 8,315 shares during the period. Swiss National Bank boosted its stake in shares of Gilat Satellite Networks by 6.2% during the 1st quarter. Swiss National Bank now owns 73,949 shares of the communications equipment provider’s stock valued at $657,000 after purchasing an additional 4,332 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of Gilat Satellite Networks by 31.1% during the first quarter. Cetera Advisor Networks LLC now owns 38,094 shares of the communications equipment provider’s stock valued at $338,000 after buying an additional 9,033 shares during the period. Citigroup Inc. bought a new position in Gilat Satellite Networks in the first quarter worth about $204,000. Finally, Vanguard Group Inc. lifted its holdings in Gilat Satellite Networks by 3.9% in the first quarter. Vanguard Group Inc. now owns 798,840 shares of the communications equipment provider’s stock worth $7,037,000 after buying an additional 30,244 shares during the period. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.