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

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also recently weighed in on GILT. Needham & Company LLC boosted their price target on Gilat Satellite Networks from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Zacks Research upgraded Gilat Satellite Networks to a “strong-buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Strong Buy” and a consensus target price of $11.00.

Gilat Satellite Networks Price Performance

Shares of Gilat Satellite Networks stock opened at $11.74 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.17. The business’s 50 day simple moving average is $9.49 and its two-hundred day simple moving average is $7.51. The stock has a market capitalization of $671.65 million, a P/E ratio of 30.10 and a beta of 0.51. Gilat Satellite Networks has a one year low of $4.82 and a one year high of $12.45.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly 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. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The company had revenue of $105.00 million for the quarter, compared to analyst estimates of $100.99 million. Analysts forecast that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Trading of Gilat Satellite Networks

A number of institutional investors have recently made changes to their positions in GILT. Blue Bell Private Wealth Management LLC purchased a new position in shares of Gilat Satellite Networks during the 1st quarter valued at about $67,000. State of Wyoming purchased a new position in shares of Gilat Satellite Networks in the 1st quarter valued at about $101,000. Flaharty Asset Management LLC purchased a new position in shares of Gilat Satellite Networks in the 1st quarter valued at about $108,000. Ritholtz Wealth Management purchased a new position in shares of Gilat Satellite Networks in the 1st quarter valued at about $111,000. Finally, Walleye Capital LLC purchased a new position in shares of Gilat Satellite Networks in the 1st quarter valued at about $111,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.