Aviat Networks (NASDAQ:AVNW) Rating Increased to Outperform at Northland Securities

Aviat Networks (NASDAQ:AVNW) was upgraded by equities research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued on Monday, Marketbeat reports. The brokerage presently has a $25.00 price target on the communications equipment provider’s stock. Northland Securities’ target price would indicate a potential upside of 29.07% from the company’s previous close.

Other research analysts have also issued research reports about the company. Zacks Research lowered Aviat Networks from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Lake Street Capital set a $31.00 target price on Aviat Networks and gave the company a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded Aviat Networks from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Finally, Citizens Jmp decreased their target price on Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Aviat Networks Stock Performance

Shares of NASDAQ:AVNW opened at $19.37 on Monday. Aviat Networks has a 1 year low of $13.92 and a 1 year high of $27.02. The firm has a market capitalization of $250.65 million, a price-to-earnings ratio of 28.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.99 and a quick ratio of 1.67. The business’s 50 day moving average price is $19.19 and its 200-day moving average price is $21.69.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%. The business had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $106.39 million. On average, equities research analysts forecast that Aviat Networks will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Aviat Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Aviat Networks during the second quarter worth $28,000. Quarry LP acquired a new stake in Aviat Networks during the third quarter worth $27,000. Potomac Capital Management Inc. acquired a new stake in shares of Aviat Networks during the 4th quarter worth about $43,000. BNP Paribas Financial Markets increased its position in shares of Aviat Networks by 96.5% during the 3rd 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 last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Aviat Networks during the 1st quarter worth about $53,000. 78.62% of the stock is owned by institutional investors and hedge funds.

About Aviat Networks

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.