Gilat Satellite Networks (NASDAQ:GILT) Stock Rating Upgraded by Wall Street Zen

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

Several other research firms have also recently issued reports on GILT. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. 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 reissued a “buy” rating and set a $20.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Gilat Satellite Networks currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Gilat Satellite Networks Trading Up 3.9%

Gilat Satellite Networks stock opened at $13.77 on Friday. 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 price-to-earnings ratio of 41.73 and a beta of 0.82. The firm has a 50-day moving average price of $15.33 and a two-hundred day moving average price of $12.79.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%.The business had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. Sell-side analysts expect that Gilat Satellite Networks will post 0.5 earnings per share for the current year.

Institutional Trading of Gilat Satellite Networks

A number of hedge funds have recently modified their holdings of the business. Cullen Frost Bankers Inc. purchased a new position in Gilat Satellite Networks during the third quarter valued at approximately $26,000. Huntington National Bank boosted its stake in shares of Gilat Satellite Networks by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 2,000 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of Gilat Satellite Networks by 82.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 960 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Gilat Satellite Networks in the third quarter worth $39,000. Finally, Smartleaf Asset Management LLC purchased a new stake in shares of Gilat Satellite Networks during the fourth quarter worth $39,000. Hedge funds and other 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.