Gilat Satellite Networks (NASDAQ:GILT) Stock Rating Lowered by StockNews.com

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

Gilat Satellite Networks Price Performance

NASDAQ GILT opened at $5.36 on Monday. The company has a market cap of $305.63 million, a PE ratio of 12.79 and a beta of 0.59. Gilat Satellite Networks has a 52 week low of $4.51 and a 52 week high of $7.16. The company has a quick ratio of 1.60, a current ratio of 1.90 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $5.88 and its two-hundred day simple moving average is $6.08.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $75.61 million for the quarter. Gilat Satellite Networks had a net margin of 8.83% and a return on equity of 7.42%.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Gilat Satellite Networks by 74.8% in the first quarter. Royal Bank of Canada now owns 3,501 shares of the communications equipment provider’s stock worth $31,000 after buying an additional 1,498 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Gilat Satellite Networks by 4.3% in the first quarter. Goldman Sachs Group Inc. now owns 48,999 shares of the communications equipment provider’s stock worth $432,000 after buying an additional 1,999 shares in the last quarter. Susquehanna International Group Ltd. lifted its holdings in shares of Gilat Satellite Networks by 15.4% in the fourth quarter. Susquehanna International Group Ltd. now owns 15,131 shares of the communications equipment provider’s stock worth $84,000 after buying an additional 2,016 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Gilat Satellite Networks by 17.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 2,999 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Gilat Satellite Networks by 10.8% in the third quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider’s stock worth $234,000 after buying an additional 3,533 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.