Gilat Satellite Networks (NASDAQ:GILT) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Gilat Satellite Networks has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, according to a report issued recently.
• Despite the downgrade, other analysts, such as Needham & Company and Zacks Research, have maintained positive ratings, with Needham raising the price target on the stock from $8.50 to $11.00.
• The company's stock recently reached $11.74, with significant quarterly earnings of $0.21 EPS, surpassing consensus estimates.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Friday.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC boosted their price target on Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Zacks Research upgraded Gilat Satellite Networks to a "strong-buy" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Strong Buy" and an average price target of $11.00.

Gilat Satellite Networks Stock Performance

NASDAQ GILT traded up $0.04 during trading hours on Friday, hitting $11.74. The company's stock had a trading volume of 433,071 shares, compared to its average volume of 936,816. Gilat Satellite Networks has a 12 month low of $4.82 and a 12 month high of $12.45. The company's 50 day simple moving average is $9.49 and its two-hundred day simple moving average is $7.51. The company has a market cap of $671.65 million, a P/E ratio of 30.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.17.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.04 by $0.17. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $100.99 million. As a group, sell-side analysts expect that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC purchased a new position in shares of Gilat Satellite Networks during the 1st quarter valued at about $67,000. State of Wyoming purchased a new position in Gilat Satellite Networks in the 1st quarter worth approximately $101,000. Flaharty Asset Management LLC purchased a new position in Gilat Satellite Networks in the 1st quarter worth approximately $108,000. Ritholtz Wealth Management purchased a new position in Gilat Satellite Networks in the 1st quarter worth approximately $111,000. Finally, Walleye Capital LLC purchased a new position in Gilat Satellite Networks in the 1st quarter worth approximately $111,000. 35.72% of the stock is owned by hedge funds and other institutional investors.

Gilat Satellite Networks Company Profile

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.

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