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

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reissued by analysts 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 target would indicate a potential upside of 19.72% from the stock’s current price.

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

Gilat Satellite Networks Stock Down 3.9 %

GILT stock opened at $7.10 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 1.84. The firm has a market capitalization of $404.84 million, a P/E ratio of 24.48 and a beta of 0.60. Gilat Satellite Networks has a 52-week low of $4.04 and a 52-week high of $7.76. The company’s 50 day simple moving average is $6.50 and its 200-day simple moving average is $5.47.

Gilat Satellite Networks (NASDAQ:GILT) last announced 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 return on equity of 9.30% and a net margin of 5.46%. As a group, equities research analysts anticipate that Gilat Satellite Networks will post 0.48 EPS for the current year.

Institutional Trading of Gilat Satellite Networks

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of Gilat Satellite Networks during the 3rd quarter worth about $27,000. Virtu Financial LLC bought a new position in Gilat Satellite Networks during the third quarter worth about $61,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Gilat Satellite Networks during the fourth quarter valued at approximately $85,000. Heron Bay Capital Management acquired a new stake in Gilat Satellite Networks during the fourth quarter valued at approximately $88,000. Finally, LPL Financial LLC bought a new stake in Gilat Satellite Networks in the fourth quarter valued at $132,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

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.