Gilat Satellite Networks (NASDAQ:GILT) Rating Lowered to Buy at Wall Street Zen

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

A number of other brokerages have also recently issued reports on GILT. Weiss Ratings reiterated a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Wednesday, October 8th. Zacks Research downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Needham & Company LLC increased their price objective 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 investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

Gilat Satellite Networks Trading Down 0.9%

GILT stock opened at $13.71 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 $784.35 million, a price-to-earnings ratio of 35.15 and a beta of 0.58. The business has a fifty day simple moving average of $11.23 and a 200-day simple moving average of $8.26. Gilat Satellite Networks has a 52 week low of $4.82 and a 52 week high of $14.95.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.17. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The firm had revenue of $105.00 million for the quarter, compared to analysts’ expectations of $100.99 million. On average, equities research analysts expect that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new position in shares of Gilat Satellite Networks in the first quarter valued at $111,000. Yelin Lapidot Holdings Management Ltd. boosted its position in Gilat Satellite Networks by 7.2% in the 1st quarter. Yelin Lapidot Holdings Management Ltd. now owns 181,549 shares of the communications equipment provider’s stock valued at $1,153,000 after buying an additional 12,235 shares during the last quarter. LBP AM SA boosted its position in Gilat Satellite Networks by 22.3% in the 1st quarter. LBP AM SA now owns 424,697 shares of the communications equipment provider’s stock valued at $2,697,000 after buying an additional 77,429 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Gilat Satellite Networks during the first quarter valued at about $67,000. Finally, Royce & Associates LP purchased a new stake in shares of Gilat Satellite Networks during the first quarter worth about $4,434,000. 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.