Citizens Jmp Cuts Aviat Networks (NASDAQ:AVNW) Price Target to $25.00

Aviat Networks (NASDAQ:AVNW) had its price objective dropped by equities researchers at Citizens Jmp from $30.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the communications equipment provider’s stock. Citizens Jmp’s price objective would indicate a potential upside of 53.52% from the company’s current price.

Several other equities research analysts also recently issued reports on AVNW. Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Wall Street Zen downgraded Aviat Networks from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Northland Securities restated a “market perform” rating and set a $20.00 price objective on shares of Aviat Networks in a report on Tuesday. Lake Street Capital set a $31.00 price objective on Aviat Networks and gave the stock a “buy” rating in a report on Tuesday. Finally, B. Riley Financial reiterated a “buy” rating and set a $36.00 price objective (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Aviat Networks Stock Up 7.9%

Shares of NASDAQ AVNW traded up $1.20 during trading on Wednesday, reaching $16.29. 107,274 shares of the stock were exchanged, compared to its average volume of 158,802. The business’s 50-day moving average price is $23.39 and its 200 day moving average price is $22.86. Aviat Networks has a twelve month low of $13.92 and a twelve month high of $27.02. The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $210.08 million, a price-to-earnings ratio of 23.36 and a beta of 0.82.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Monday, May 4th. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The firm had revenue of $100.00 million for the quarter, compared to analyst estimates of $106.39 million. Aviat Networks had a return on equity of 6.92% and a net margin of 2.08%. As a group, equities analysts forecast that Aviat Networks will post 1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aviat Networks news, SVP Gary Croke sold 6,914 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $26.20, for a total transaction of $181,146.80. Following the transaction, the senior vice president directly owned 43,868 shares in the company, valued at $1,149,341.60. This represents a 13.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Pete A. Smith sold 17,086 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $26.33, for a total transaction of $449,874.38. Following the transaction, the chief executive officer owned 358,747 shares in the company, valued at $9,445,808.51. This trade represents a 4.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Aviat Networks

A number of institutional investors and hedge funds have recently modified their holdings of AVNW. Quarry LP acquired a new stake in shares of Aviat Networks during the third quarter worth $27,000. Raymond James Financial Inc. acquired a new stake in shares of Aviat Networks during the second quarter worth $28,000. Potomac Capital Management Inc. acquired a new stake in shares of Aviat Networks during the fourth quarter worth $43,000. Comerica Bank raised its holdings in shares of Aviat Networks by 40.2% during the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 780 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Aviat Networks by 96.5% during the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 1,120 shares during the period. 78.62% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Company Profile

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.