Gilat Satellite Networks (NASDAQ:GILT) Upgraded at Wall Street Zen

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

GILT has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Gilat Satellite Networks in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Finally, Freedom Capital downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

Gilat Satellite Networks Trading Up 3.9%

GILT opened at $13.77 on Friday. The firm’s 50 day moving average is $15.33 and its 200-day moving average is $12.79. Gilat Satellite Networks has a 52-week low of $5.30 and a 52-week high of $20.38. The company has a quick ratio of 1.45, a current ratio of 1.84 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $787.81 million, a P/E ratio of 41.73 and a beta of 0.82.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating 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 business had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. Analysts expect that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors and hedge funds have recently bought and sold shares of GILT. ANB Bank acquired a new position in Gilat Satellite Networks in the fourth quarter valued at approximately $246,000. Smartleaf Asset Management LLC bought a new stake in shares of Gilat Satellite Networks in the 4th quarter worth approximately $39,000. Van ECK Associates Corp lifted its holdings in shares of Gilat Satellite Networks by 77.3% in the 4th quarter. Van ECK Associates Corp now owns 1,068,141 shares of the communications equipment provider’s stock worth $13,822,000 after purchasing an additional 465,775 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Gilat Satellite Networks by 13.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 300,804 shares of the communications equipment provider’s stock valued at $3,892,000 after purchasing an additional 34,589 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in Gilat Satellite Networks by 33.8% during 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 buying an additional 1,402,035 shares during the last quarter. Institutional investors and hedge funds 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.