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

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $8.50 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 25.37% from the company’s previous close.

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

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT opened at $6.78 on Thursday. The company’s 50-day moving average is $6.54 and its 200 day moving average is $5.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. The company has a market capitalization of $386.60 million, a P/E ratio of 23.38 and a beta of 0.60. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $7.76.

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

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in Gilat Satellite Networks during the third quarter valued at about $27,000. Covestor Ltd purchased a new stake in Gilat Satellite Networks during the fourth quarter valued at about $29,000. Virtu Financial LLC bought a new stake in shares of Gilat Satellite Networks during the third quarter valued at about $61,000. Quarry LP bought a new stake in shares of Gilat Satellite Networks during the fourth quarter valued at about $68,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Gilat Satellite Networks during the fourth quarter valued at about $85,000. 35.72% of the stock is 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.