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

Wall Street Zen upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a hold rating to a buy rating in a report published on Saturday.

GILT has been the topic of a number of other research reports. Freedom Capital downgraded Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Gilat Satellite Networks Stock Up 3.9%

Shares of Gilat Satellite Networks stock 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. Gilat Satellite Networks has a 12-month low of $5.30 and a 12-month high of $20.38. The company has a market cap of $787.78 million, a P/E ratio of 41.73 and a beta of 0.82. The company’s fifty day simple moving average is $15.37 and its two-hundred day simple moving average is $12.91.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $133.56 million. Research analysts anticipate that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Gilat Satellite Networks by 118.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock valued at $51,992,000 after acquiring an additional 2,250,000 shares in the last quarter. Penserra Capital Management LLC increased its stake in Gilat Satellite Networks by 831.1% during the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after purchasing an additional 1,064,959 shares in the last quarter. CSM Advisors LLC purchased a new position in Gilat Satellite Networks in the second quarter worth about $6,214,000. UBS Group AG lifted its stake in shares of Gilat Satellite Networks by 613.4% in the third quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider’s stock worth $12,545,000 after buying an additional 828,489 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Gilat Satellite Networks by 995.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 907,794 shares of the communications equipment provider’s stock valued at $11,755,000 after buying an additional 824,949 shares during the last quarter. 35.72% of the stock is owned by hedge funds and other institutional investors.

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.