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

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

Several other equities analysts also recently issued reports on the company. Freedom Capital upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. One equities research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.00.

Gilat Satellite Networks Trading Down 0.2%

Shares of GILT stock opened at $15.90 on Friday. The company has a market capitalization of $909.64 million, a P/E ratio of 48.18 and a beta of 0.82. Gilat Satellite Networks has a 12-month low of $5.30 and a 12-month high of $20.38. The company has a quick ratio of 1.62, a current ratio of 1.84 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $15.91 and a 200 day moving average price of $13.33.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share 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 company had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. Research analysts forecast that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gilat Satellite Networks

Several hedge funds have recently added to or reduced their stakes in GILT. Cullen Frost Bankers Inc. acquired a new stake in Gilat Satellite Networks in the third quarter worth about $26,000. Huntington National Bank boosted its stake in shares of Gilat Satellite Networks by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 2,000 shares during the last quarter. SBI Securities Co. Ltd. grew its position 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 worth $28,000 after buying an additional 960 shares during the period. USA Financial Formulas acquired a new stake in shares of Gilat Satellite Networks during the 3rd quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC bought a new stake in shares of Gilat Satellite Networks during the fourth quarter worth approximately $39,000. 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.