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

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

A number of other research analysts have also weighed in on GILT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. Finally, Freedom Capital cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. One research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.00.

Gilat Satellite Networks Price Performance

GILT opened at $13.77 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The company has a market cap of $787.78 million, a price-to-earnings ratio of 41.73 and a beta of 0.82. The stock has a fifty day simple moving average of $15.33 and a two-hundred day simple moving average of $12.87. Gilat Satellite Networks has a 12-month low of $5.30 and a 12-month high of $20.38.

Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. The firm had revenue of $136.96 million for the quarter, compared to the consensus estimate of $133.56 million. Research analysts predict that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds have recently made changes to their positions in GILT. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Gilat Satellite Networks by 33.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider’s stock worth $71,476,000 after purchasing an additional 1,402,035 shares in the last quarter. First Wilshire Securities Management Inc. lifted its holdings in shares of Gilat Satellite Networks by 1.0% in the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock worth $10,408,000 after buying an additional 14,782 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Gilat Satellite Networks by 12.4% in the third quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider’s stock worth $15,605,000 after buying an additional 132,599 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Gilat Satellite Networks by 831.1% during the third quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock worth $15,533,000 after acquiring an additional 1,064,959 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Gilat Satellite Networks by 62.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock valued at $14,206,000 after acquiring an additional 419,843 shares in the last quarter. Institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.