Gilat Satellite Networks (NASDAQ:GILT) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Gilat Satellite Networks has been upgraded to a "strong-buy" rating by Wall Street Zen, moving up from a previous "hold" rating.
• Needham & Company LLC raised the target price for Gilat's shares from $8.50 to $11.00, maintaining a "buy" rating.
• The company's recent quarterly earnings exceeded estimates, reporting $0.21 EPS against a consensus of $0.04, with revenue of $105 million compared to expectations of $100.99 million.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

Separately, Needham & Company LLC upped their price target on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th.

Gilat Satellite Networks Stock Up 1.6%

GILT traded up $0.14 during trading on Friday, reaching $9.09. The company had a trading volume of 787,498 shares, compared to its average volume of 447,078. 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 has a 12 month low of $4.30 and a 12 month high of $9.40. The business's fifty day moving average price is $7.21 and its 200 day moving average price is $6.79. The company has a market cap of $520.10 million, a P/E ratio of 23.30 and a beta of 0.46.

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, beating the consensus estimate of $0.04 by $0.17. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. The firm had revenue of $105.00 million for the quarter, compared to the consensus estimate of $100.99 million. Equities analysts anticipate that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Gilat Satellite Networks during the 4th quarter worth approximately $226,000. Inspire Advisors LLC acquired a new stake in shares of Gilat Satellite Networks during the 1st quarter worth approximately $308,000. Bank of America Corp DE grew its position in shares of Gilat Satellite Networks by 83.4% during the 4th quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider's stock worth $305,000 after buying an additional 22,515 shares during the period. Royce & Associates LP acquired a new stake in shares of Gilat Satellite Networks during the 1st quarter worth approximately $4,434,000. Finally, Lazard Asset Management LLC grew its position in shares of Gilat Satellite Networks by 62.9% during the 4th quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider's stock worth $1,028,000 after buying an additional 64,610 shares during the period. Institutional investors 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.