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

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

GILT has been the subject of a number of other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Saturday, September 27th. Needham & Company LLC increased their target price on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Gilat Satellite Networks to a “strong-buy” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $11.00.

Gilat Satellite Networks Stock Down 0.9%

Shares of NASDAQ:GILT opened at $13.47 on Friday. Gilat Satellite Networks has a fifty-two week low of $4.82 and a fifty-two week high of $13.99. The firm’s 50 day moving average price is $10.02 and its 200 day moving average price is $7.74. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The stock has a market cap of $770.62 million, a price-to-earnings ratio of 34.54 and a beta of 0.58.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.17. The company had revenue of $105.00 million for the quarter, compared to the consensus estimate of $100.99 million. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. As a group, equities research analysts predict that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Tidal Investments LLC lifted its holdings in Gilat Satellite Networks by 6.8% in the second quarter. Tidal Investments LLC now owns 66,474 shares of the communications equipment provider’s stock valued at $471,000 after acquiring an additional 4,250 shares during the period. Marshall Wace LLP grew its stake in shares of Gilat Satellite Networks by 1.6% during the 2nd quarter. Marshall Wace LLP now owns 513,873 shares of the communications equipment provider’s stock worth $3,643,000 after purchasing an additional 8,105 shares during the period. Blue Bell Private Wealth Management LLC purchased a new position in shares of Gilat Satellite Networks in the 1st quarter valued at about $67,000. Yelin Lapidot Holdings Management Ltd. lifted its stake in shares of Gilat Satellite Networks by 7.2% in the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 181,549 shares of the communications equipment provider’s stock valued at $1,153,000 after purchasing an additional 12,235 shares during the period. Finally, First Wilshire Securities Management Inc. lifted its stake in shares of Gilat Satellite Networks by 1.0% in the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock valued at $10,408,000 after purchasing an additional 14,782 shares during the period. Hedge funds and other institutional investors 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.