Gilat Satellite Networks (NASDAQ:GILT) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Gilat Satellite Networks (NASDAQ:GILT) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

A number of other research analysts have also commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Zacks Research cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Freedom Capital lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Gilat Satellite Networks in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.00.

Gilat Satellite Networks Stock Up 1.2%

Gilat Satellite Networks stock opened at $18.65 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.45. Gilat Satellite Networks has a fifty-two week low of $5.30 and a fifty-two week high of $18.67. The firm has a fifty day moving average price of $13.43 and a two-hundred day moving average price of $11.74. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 45.49 and a beta of 0.64.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Gilat Satellite Networks had a return on equity of 10.40% and a net margin of 6.03%.The business had revenue of $117.69 million for the quarter, compared to analyst estimates of $112.19 million. As a group, analysts forecast that Gilat Satellite Networks will post 0.5 earnings per share for the current year.

Institutional Trading of Gilat Satellite Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. bought a new position in Gilat Satellite Networks during the third quarter worth about $26,000. USA Financial Formulas bought a new stake in shares of Gilat Satellite Networks in the 3rd quarter valued at approximately $39,000. Signaturefd LLC raised its holdings in shares of Gilat Satellite Networks by 104.5% in the 4th quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock worth $53,000 after buying an additional 2,105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Gilat Satellite Networks in the 3rd quarter worth approximately $64,000. Finally, McIlrath & Eck LLC lifted its position in shares of Gilat Satellite Networks by 383.1% during the 3rd quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 4,586 shares during the period. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

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.