Gilat Satellite Networks (NASDAQ:GILT) Sets New 12-Month High – Time to Buy?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.39 and last traded at $18.1210, with a volume of 578460 shares changing hands. The stock had previously closed at $17.86.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GILT. Wall Street Zen lowered Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Gilat Satellite Networks in a research note on Tuesday, November 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.00.

Gilat Satellite Networks Stock Down 1.1%

The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.01 billion, a P/E ratio of 43.10 and a beta of 0.64. The company’s 50 day moving average price is $12.98 and its two-hundred day moving average price is $11.50.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The business had revenue of $117.69 million during the quarter, compared to analysts’ expectations of $112.19 million. Equities analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GILT. Cullen Frost Bankers Inc. purchased a new stake in Gilat Satellite Networks in the 3rd quarter worth approximately $26,000. USA Financial Formulas bought a new position in shares of Gilat Satellite Networks in the third quarter worth approximately $39,000. Signaturefd LLC increased its stake in shares of Gilat Satellite Networks by 104.5% in the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock worth $53,000 after purchasing an additional 2,105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at $64,000. Finally, McIlrath & Eck LLC raised its position in shares of Gilat Satellite Networks by 383.1% during the 3rd quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 4,586 shares during the period. 35.72% of the stock is owned by hedge funds and other institutional investors.

About Gilat Satellite Networks

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.