Aviat Networks (NASDAQ:AVNW) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Aviat Networks (NASDAQ:AVNW) from a sell rating to a hold rating in a research report released on Wednesday.

Several other research firms also recently commented on AVNW. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. Northland Securities reiterated an “outperform” rating and set a $30.00 price target (up previously from $27.00) on shares of Aviat Networks in a research note on Wednesday. Lake Street Capital lowered their target price on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Roth Mkm reduced their price target on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Aviat Networks currently has an average rating of “Moderate Buy” and a consensus price target of $37.60.

Aviat Networks Trading Up 28.2 %

NASDAQ AVNW opened at $26.35 on Wednesday. Aviat Networks has a 12 month low of $12.95 and a 12 month high of $38.85. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average price is $18.25 and its 200-day moving average price is $21.27. The stock has a market cap of $334.38 million, a P/E ratio of -85.00 and a beta of 1.68.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.09 by $0.57. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. As a group, equities analysts forecast that Aviat Networks will post 1.13 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Aviat Networks by 18.3% in the 2nd quarter. AQR Capital Management LLC now owns 34,602 shares of the communications equipment provider’s stock worth $993,000 after acquiring an additional 5,343 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Aviat Networks in the third quarter valued at $62,000. Assenagon Asset Management S.A. bought a new stake in Aviat Networks in the third quarter worth $589,000. Tectonic Advisors LLC raised its stake in Aviat Networks by 8.6% during the third quarter. Tectonic Advisors LLC now owns 59,621 shares of the communications equipment provider’s stock valued at $1,290,000 after purchasing an additional 4,715 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in Aviat Networks by 183.9% during the third quarter. GSA Capital Partners LLP now owns 19,826 shares of the communications equipment provider’s stock valued at $429,000 after purchasing an additional 12,843 shares during the last quarter. 78.62% of the stock is owned by institutional investors.

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.