Gilat Satellite Networks (NASDAQ:GILT) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a strong-buy rating to a buy rating in a report issued on Monday.

Gilat Satellite Networks Trading Down 2.2 %

Shares of GILT stock opened at $5.24 on Monday. The company has a market cap of $298.78 million, a PE ratio of 12.48 and a beta of 0.59. Gilat Satellite Networks has a 1 year low of $4.51 and a 1 year high of $7.16. The stock’s 50 day simple moving average is $5.85 and its two-hundred day simple moving average is $6.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.60.

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

Hedge Funds Weigh In On Gilat Satellite Networks

Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in 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 purchasing an additional 1,498 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Gilat Satellite Networks in the fourth quarter worth approximately $27,000. Bank of New York Mellon Corp bought a new stake in shares of Gilat Satellite Networks during the 1st quarter worth approximately $2,338,000. Quadrant Capital Group LLC boosted its holdings in Gilat Satellite Networks by 150.5% during the 4th quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after acquiring an additional 4,733 shares during the period. Finally, New York State Common Retirement Fund bought a new position in Gilat Satellite Networks in the 4th quarter valued at $48,000. 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.