Freedom Broker Has Lowered Expectations for Gilat Satellite Networks (NASDAQ:GILT) Stock Price

Gilat Satellite Networks (NASDAQ:GILT) had its price target dropped by research analysts at Freedom Broker from $18.40 to $13.30 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. Freedom Broker‘s price objective indicates a potential upside of 140.29% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC dropped their price target on Gilat Satellite Networks from $20.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday. William Blair lowered shares of Gilat Satellite Networks from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gilat Satellite Networks in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.15.

Gilat Satellite Networks Stock Down 3.4%

GILT stock traded down $0.20 on Friday, hitting $5.54. 968,292 shares of the company’s stock were exchanged, compared to its average volume of 849,190. The firm has a 50 day moving average price of $8.68 and a two-hundred day moving average price of $13.34. Gilat Satellite Networks has a 12-month low of $5.40 and a 12-month high of $20.93. The stock has a market cap of $408.65 million, a P/E ratio of 13.51 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 2.57.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Tuesday, November 10th. The communications equipment provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $116.23 million during the quarter, compared to analysts’ expectations of $126.54 million. Gilat Satellite Networks had a return on equity of 9.55% and a net margin of 6.34%. As a group, equities research analysts expect that Gilat Satellite Networks will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Gilat Satellite Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Focus Advisor Solutions LLC increased its holdings in shares of Gilat Satellite Networks by 80.5% in the third quarter. Focus Advisor Solutions LLC now owns 20,709 shares of the communications equipment provider’s stock valued at $204,000 after purchasing an additional 9,238 shares during the period. Royce & Associates LP raised its stake in shares of Gilat Satellite Networks by 5.4% in the third quarter. Royce & Associates LP now owns 1,168,325 shares of the communications equipment provider’s stock worth $11,531,000 after purchasing an additional 60,253 shares during the last quarter. Phoenix Financial Ltd. raised its stake in shares of Gilat Satellite Networks by 2.3% in the third quarter. Phoenix Financial Ltd. now owns 3,899,328 shares of the communications equipment provider’s stock worth $38,486,000 after purchasing an additional 87,922 shares during the last quarter. Penn Capital Management Company LLC lifted its holdings in shares of Gilat Satellite Networks by 99.3% during the third quarter. Penn Capital Management Company LLC now owns 277,511 shares of the communications equipment provider’s stock worth $2,739,000 after purchasing an additional 138,238 shares during the period. Finally, StoneX Group Inc. acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth about $120,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

Gilat Satellite Networks is an Israel-based provider of satellite communications technology and services. Founded in 1987, the company develops equipment and network solutions that enable broadband connectivity in areas where terrestrial networks are limited or unavailable. Its offerings include very small aperture terminal (VSAT) equipment, satellite modems, hubs, gateways and network management systems. Gilat also provides satellite communications solutions for cellular backhaul, enterprise and rural broadband, in-flight and maritime connectivity, and government and defense applications.