Gilat Satellite Networks (NASDAQ:GILT) Raised to Strong-Buy at Wall Street Zen

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

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

Gilat Satellite Networks Stock Performance

Shares of GILT stock opened at $13.47 on Friday. The stock has a fifty day moving average price of $10.02 and a 200 day moving average price of $7.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.50. The stock has a market cap of $770.62 million, a PE ratio of 34.54 and a beta of 0.58. Gilat Satellite Networks has a 1 year low of $4.82 and a 1 year high of $13.99.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.17. The company had revenue of $105.00 million for the quarter, compared to analyst estimates of $100.99 million. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%. Sell-side analysts forecast that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Large investors have recently made changes to their positions in the business. Inspire Advisors LLC acquired a new stake in shares of Gilat Satellite Networks in the first quarter valued at about $308,000. Royce & Associates LP acquired a new stake in Gilat Satellite Networks during the first quarter valued at approximately $4,434,000. Bank of America Corp DE lifted its holdings in Gilat Satellite Networks by 83.4% during the 4th quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider’s stock worth $305,000 after buying an additional 22,515 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Gilat Satellite Networks by 24.3% during the first quarter. Acadian Asset Management LLC now owns 638,854 shares of the communications equipment provider’s stock worth $4,044,000 after purchasing an additional 124,794 shares during the last quarter. Finally, LBP AM SA boosted its holdings in Gilat Satellite Networks by 22.3% in the first quarter. LBP AM SA now owns 424,697 shares of the communications equipment provider’s stock worth $2,697,000 after purchasing an additional 77,429 shares during the period. Institutional investors and hedge funds 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. 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.