Gilat Satellite Networks (NASDAQ:GILT) Sets New 1-Year High - Still a Buy?

Key Points

• Gilat Satellite Networks reached a new 52-week high, trading at $10.09 during mid-day before settling at $9.82.
• Equities analysts have recently upgraded GILT's rating to a strong-buy, with an average price target of $11.00 according to MarketBeat.
• The company reported earnings of $0.21 per share, significantly beating analysts' expectations, with revenues reaching $105 million for the quarter.

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $10.09 and last traded at $9.82, with a volume of 751593 shares trading hands. The stock had previously closed at $9.95.

Analyst Ratings Changes

Several brokerages have recently weighed in on GILT. Wall Street Zen raised Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Zacks Research upgraded Gilat Satellite Networks to a "strong-buy" rating in a report on Friday, August 8th. Finally, Needham & Company LLC boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $11.00.

Gilat Satellite Networks Stock Performance

The firm has a 50 day moving average of $8.11 and a two-hundred day moving average of $7.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.50. The stock has a market cap of $529.19 million, a P/E ratio of 23.76 and a beta of 0.51.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $105.00 million during the quarter, compared to analysts' expectations of $100.99 million. On average, research analysts predict that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its stake in shares of Gilat Satellite Networks by 3.4% in the fourth quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider's stock valued at $405,000 after buying an additional 2,158 shares during the period. Marshall Wace LLP lifted its stake in Gilat Satellite Networks by 1.6% during the second 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 last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Gilat Satellite Networks by 22.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 53,600 shares of the communications equipment provider's stock worth $330,000 after buying an additional 10,000 shares in the last quarter. Blue Bell Private Wealth Management LLC acquired a new position in shares of Gilat Satellite Networks during the first quarter worth $67,000. Finally, Yelin Lapidot Holdings Management Ltd. increased its holdings in shares of Gilat Satellite Networks by 7.2% during the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 181,549 shares of the communications equipment provider's stock worth $1,153,000 after buying an additional 12,235 shares in the last quarter. Institutional investors and hedge funds own 35.72% of the company's stock.

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.