Gilat Satellite Networks’ (GILT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $8.50 price objective on the communications equipment provider’s stock.

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 Trading Down 0.9 %

NASDAQ GILT opened at $6.78 on Thursday. Gilat Satellite Networks has a 52-week low of $4.04 and a 52-week high of $7.76. The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $386.60 million, a P/E ratio of 23.38 and a beta of 0.60. The firm has a 50-day moving average price of $6.55 and a 200 day moving average price of $5.52.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Gilat Satellite Networks will post 0.48 EPS for the current year.

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in Gilat Satellite Networks in the 3rd quarter worth about $27,000. Covestor Ltd bought a new position in Gilat Satellite Networks in the 4th quarter worth about $29,000. Virtu Financial LLC bought a new position in Gilat Satellite Networks in the 3rd quarter worth about $61,000. Quarry LP bought a new position in Gilat Satellite Networks in the 4th quarter worth about $68,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Gilat Satellite Networks in the 4th quarter worth about $85,000. 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.