Gilat Satellite Networks (NASDAQ:GILT) Stock Price Target Lowered at Freedom Broker

Gilat Satellite Networks (NASDAQ:GILT) had its price target decreased by Freedom Broker from $18.40 to $13.30 in a report issued on Friday,Benzinga reports. Freedom Broker currently has a buy rating on the communications equipment provider’s stock.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC cut their price objective on shares of Gilat Satellite Networks from $20.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday. William Blair cut shares of Gilat Satellite Networks from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.15.

Gilat Satellite Networks Stock Down 2.4%

NASDAQ GILT traded down $0.14 during trading on Friday, reaching $5.59. 1,536,975 shares of the company’s stock were exchanged, compared to its average volume of 1,252,526. The stock has a market cap of $412.71 million, a P/E ratio of 13.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 2.57. The company has a 50 day moving average price of $8.59 and a two-hundred day moving average price of $13.27. Gilat Satellite Networks has a 1 year low of $5.40 and a 1 year high of $20.93.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Tuesday, November 10th. The communications equipment provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Gilat Satellite Networks had a return on equity of 9.55% and a net margin of 6.34%. The business had revenue of $116.23 million for the quarter, compared to the consensus estimate of $126.54 million. On average, equities research analysts anticipate that Gilat Satellite Networks will post 0.53 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

A number of large investors have recently made changes to their positions in the company. Phoenix Financial Ltd. grew its stake in Gilat Satellite Networks by 2.3% during the 3rd quarter. Phoenix Financial Ltd. now owns 3,899,328 shares of the communications equipment provider’s stock worth $38,486,000 after buying an additional 87,922 shares during the last quarter. Van ECK Associates Corp increased its position in Gilat Satellite Networks by 47.3% during the second quarter. Van ECK Associates Corp now owns 1,799,354 shares of the communications equipment provider’s stock worth $23,949,000 after buying an additional 577,479 shares during the period. Royce & Associates LP lifted its stake in Gilat Satellite Networks by 5.4% in the third quarter. Royce & Associates LP now owns 1,168,325 shares of the communications equipment provider’s stock valued at $11,531,000 after buying an additional 60,253 shares during the last quarter. Wellington Management Group LLP lifted its stake in Gilat Satellite Networks by 6.3% in the second quarter. Wellington Management Group LLP now owns 1,094,623 shares of the communications equipment provider’s stock valued at $14,569,000 after buying an additional 64,917 shares during the last quarter. Finally, AWM Investment Company Inc. purchased a new stake in Gilat Satellite Networks in the second quarter valued at approximately $13,792,000. 35.72% of the stock is owned by institutional investors and hedge funds.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is an Israel-based provider of satellite communications technology and services. Founded in 1987, the company develops equipment and network solutions that enable broadband connectivity in areas where terrestrial networks are limited or unavailable. Its offerings include very small aperture terminal (VSAT) equipment, satellite modems, hubs, gateways and network management systems. Gilat also provides satellite communications solutions for cellular backhaul, enterprise and rural broadband, in-flight and maritime connectivity, and government and defense applications.