Gilat Satellite Networks (NASDAQ:GILT) Cut to “Buy” at Wall Street Zen

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

Several other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Gilat Satellite Networks in a research report on Wednesday, October 8th. Finally, Needham & Company LLC raised their target price on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Gilat Satellite Networks Price Performance

GILT opened at $13.89 on Friday. The company’s 50 day simple moving average is $11.33 and its 200 day simple moving average is $8.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.50. Gilat Satellite Networks has a 1 year low of $4.82 and a 1 year high of $14.95. The stock has a market capitalization of $794.65 million, a PE ratio of 35.62 and a beta of 0.58.

Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $105.00 million for the quarter, compared to analysts’ expectations of $100.99 million. As a group, sell-side analysts expect that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. USA Financial Formulas acquired a new position in Gilat Satellite Networks during the third quarter valued at approximately $39,000. Tidal Investments LLC raised its stake in shares of Gilat Satellite Networks by 6.8% during the second quarter. Tidal Investments LLC now owns 66,474 shares of the communications equipment provider’s stock valued at $471,000 after purchasing an additional 4,250 shares during the period. Bank of America Corp DE raised its stake in shares of Gilat Satellite Networks by 23.2% during the second quarter. Bank of America Corp DE now owns 121,258 shares of the communications equipment provider’s stock valued at $860,000 after purchasing an additional 22,817 shares during the period. Jane Street Group LLC raised its stake in shares of Gilat Satellite Networks by 298.7% during the second quarter. Jane Street Group LLC now owns 68,222 shares of the communications equipment provider’s stock valued at $484,000 after purchasing an additional 51,109 shares during the period. Finally, First Wilshire Securities Management Inc. raised its stake in shares of Gilat Satellite Networks by 1.0% during the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock valued at $10,408,000 after purchasing an additional 14,782 shares during the period. 35.72% of the stock is owned by institutional investors and hedge funds.

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.