Aviat Networks, Inc. (NASDAQ:AVNW) Receives Consensus Recommendation of “Buy” from Brokerages

Aviat Networks, Inc. (NASDAQ:AVNW) has received an average recommendation of “Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $38.60.

Several analysts have recently commented on AVNW shares. Lake Street Capital reduced their price target on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Roth Mkm reduced their target price on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. B. Riley lowered their price target on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 13th. Northland Securities reduced their target price on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, StockNews.com cut shares of Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th.

Insider Buying and Selling

In other news, CFO Michael Connaway purchased 3,500 shares of Aviat Networks stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $14.13 per share, for a total transaction of $49,455.00. Following the acquisition, the chief financial officer now directly owns 57,893 shares in the company, valued at $818,028.09. This represents a 6.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Pete A. Smith bought 3,000 shares of the stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the completion of the transaction, the chief executive officer now directly owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. The trade was a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 7,400 shares of company stock worth $106,110. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its stake in Aviat Networks by 8.5% in the third quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock worth $15,063,000 after purchasing an additional 54,339 shares in the last quarter. Hodges Capital Management Inc. lifted its position in Aviat Networks by 27.3% during the 3rd quarter. Hodges Capital Management Inc. now owns 465,483 shares of the communications equipment provider’s stock worth $10,068,000 after buying an additional 99,948 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Aviat Networks by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 425,538 shares of the communications equipment provider’s stock worth $12,208,000 after acquiring an additional 7,968 shares during the last quarter. Select Equity Group L.P. increased its position in Aviat Networks by 8.7% in the 2nd quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock valued at $10,907,000 after acquiring an additional 30,582 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Aviat Networks by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,100 shares of the communications equipment provider’s stock valued at $7,875,000 after acquiring an additional 11,094 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Stock Performance

Shares of Aviat Networks stock opened at $17.49 on Thursday. Aviat Networks has a one year low of $12.95 and a one year high of $38.85. The business has a 50-day simple moving average of $17.27 and a 200-day simple moving average of $23.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72. The company has a market cap of $221.95 million, a PE ratio of -56.42 and a beta of 1.72.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. The company had revenue of $116.66 million during the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. On average, equities research analysts forecast that Aviat Networks will post 1.13 EPS for the current fiscal year.

Aviat Networks Company Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.