Gilat Satellite Networks (NASDAQ:GILT) Earns Buy Rating from Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $8.50 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 19.72% from the stock’s current price.

Separately, StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

Gilat Satellite Networks Price Performance

GILT stock opened at $7.10 on Thursday. The stock has a 50-day simple moving average of $6.50 and a 200-day simple moving average of $5.47. The firm has a market cap of $404.84 million, a P/E ratio of 24.48 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $7.76.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 5.46% and a return on equity of 9.30%. On average, equities analysts predict that Gilat Satellite Networks will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently modified their holdings of GILT. BNP Paribas Financial Markets acquired a new stake in Gilat Satellite Networks in the third quarter worth approximately $27,000. Virtu Financial LLC bought a new position in Gilat Satellite Networks during the third quarter valued at about $61,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Gilat Satellite Networks during the fourth quarter worth about $85,000. Heron Bay Capital Management bought a new stake in Gilat Satellite Networks in the fourth quarter worth about $88,000. Finally, LPL Financial LLC bought a new stake in Gilat Satellite Networks in the fourth quarter worth about $132,000. 35.72% of the stock is currently owned by institutional investors.

About Gilat Satellite Networks

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.