Gilat Satellite Networks (NASDAQ:GILT) Reaches New 52-Week High - Should You 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.

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company 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.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GILT shares. Needham & Company LLC increased 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. Wall Street Zen upgraded Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Zacks Research upgraded Gilat Satellite Networks to a "strong-buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $11.00.

Gilat Satellite Networks Stock Performance

The firm has a 50-day moving average of $8.05 and a two-hundred day moving average of $6.99. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $538.35 million, a PE ratio of 24.13 and a beta of 0.51.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.17. The company had revenue of $105.00 million during the quarter, compared to analysts' expectations of $100.99 million. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%. Research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Institutional Trading of Gilat Satellite Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. Inspire Advisors LLC purchased a new stake in shares of Gilat Satellite Networks in the first quarter valued at approximately $308,000. Royce & Associates LP acquired a new stake in shares of Gilat Satellite Networks in the first quarter worth approximately $4,434,000. Bank of America Corp DE boosted its stake in shares of Gilat Satellite Networks by 83.4% in the fourth quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider's stock worth $305,000 after acquiring an additional 22,515 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Gilat Satellite Networks by 62.9% in the fourth quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider's stock worth $1,028,000 after acquiring an additional 64,610 shares during the last quarter. Finally, LBP AM SA boosted its stake in shares of Gilat Satellite Networks by 22.3% in the first quarter. LBP AM SA now owns 424,697 shares of the communications equipment provider's stock worth $2,697,000 after acquiring an additional 77,429 shares during the last quarter. 35.72% of the stock is currently 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.