Aviat Networks (NASDAQ:AVNW) Raised to “Hold” at Zacks Research

Aviat Networks (NASDAQ:AVNW) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on AVNW. Citigroup raised Aviat Networks to an “outperform” rating in a research note on Monday, June 15th. Weiss Ratings cut shares of Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Citizens Jmp lowered their price objective on shares of Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Lake Street Capital set a $31.00 target price on shares of Aviat Networks and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of Aviat Networks from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.14.

Aviat Networks Stock Down 2.5%

Aviat Networks stock opened at $20.54 on Monday. Aviat Networks has a fifty-two week low of $13.92 and a fifty-two week high of $27.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.67 and a current ratio of 1.99. The firm has a 50 day moving average price of $18.81 and a 200 day moving average price of $21.63. The company has a market capitalization of $265.79 million, a PE ratio of 29.77 and a beta of 0.70.

Aviat Networks (NASDAQ:AVNW) last released its quarterly 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). Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%.The firm had revenue of $100.00 million for the quarter, compared to analyst estimates of $106.39 million. Research analysts expect that Aviat Networks will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Aviat Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank increased its stake 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 buying an additional 780 shares during the period. Royal Bank of Canada lifted its stake in Aviat Networks by 290.7% in the first quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider’s stock worth $783,000 after acquiring an additional 30,413 shares during the last quarter. AQR Capital Management LLC grew its holdings in Aviat Networks by 20.6% during the 1st quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider’s stock worth $1,629,000 after acquiring an additional 14,498 shares in the last quarter. Jane Street Group LLC grew its holdings in Aviat Networks by 6.9% during the 1st quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider’s stock worth $500,000 after acquiring an additional 1,683 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Aviat Networks by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock valued at $441,000 after purchasing an additional 1,148 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

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.