Gilat Satellite Networks (NASDAQ:GILT) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

GILT has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. 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, Wall Street Zen raised Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.00.

Gilat Satellite Networks Trading Up 3.9%

Shares of GILT stock opened at $13.77 on Thursday. 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 business has a 50-day moving average price of $15.33 and a two-hundred day moving average price of $12.83. Gilat Satellite Networks has a 12-month low of $5.30 and a 12-month high of $20.38. The firm has a market cap of $787.78 million, a P/E ratio of 41.73 and a beta of 0.82.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. The firm had revenue of $136.96 million for the quarter, compared to analyst estimates of $133.56 million. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%. Equities analysts anticipate that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors and hedge funds have recently bought and sold shares of the business. Yelin Lapidot Holdings Management Ltd. raised its holdings in Gilat Satellite Networks by 275.4% in the third quarter. Yelin Lapidot Holdings Management Ltd. now owns 681,549 shares of the communications equipment provider’s stock worth $8,874,000 after purchasing an additional 500,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Gilat Satellite Networks by 62.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock worth $14,206,000 after acquiring an additional 419,843 shares in the last quarter. LBP AM SA increased its stake in shares of Gilat Satellite Networks by 29.0% in the 3rd quarter. LBP AM SA now owns 730,461 shares of the communications equipment provider’s stock worth $9,511,000 after acquiring an additional 164,386 shares in the last quarter. Penserra Capital Management LLC lifted its position 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 acquiring an additional 1,064,959 shares during the period. Finally, CSM Advisors LLC bought a new stake in Gilat Satellite Networks during the second quarter worth about $6,214,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

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.