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

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) have received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $30.00.

Several brokerages have commented on AVNW. Weiss Ratings downgraded Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Northland Securities reaffirmed a “market perform” rating and set a $20.00 price objective on shares of Aviat Networks in a report on Tuesday, May 5th. Wall Street Zen lowered shares of Aviat Networks from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Zacks Research downgraded shares of Aviat Networks from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Finally, Citizens Jmp cut their target price on shares of Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th.

Institutional Trading of Aviat Networks

Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank grew its holdings in Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 780 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Aviat Networks by 290.7% during the first quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider’s stock worth $783,000 after buying an additional 30,413 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Aviat Networks by 20.6% during the first quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider’s stock worth $1,629,000 after buying an additional 14,498 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Aviat Networks by 6.9% in the first quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider’s stock valued at $500,000 after acquiring an additional 1,683 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Aviat Networks by 6.7% in the second quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock worth $441,000 after acquiring an additional 1,148 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Stock Performance

AVNW opened at $18.79 on Wednesday. The company has a market cap of $243.14 million, a PE ratio of 27.23 and a beta of 0.74. The stock has a 50-day moving average of $19.35 and a 200-day moving average of $21.73. Aviat Networks has a 52-week low of $13.92 and a 52-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.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings data on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share 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 company had revenue of $100.00 million during the quarter, compared to the consensus estimate of $106.39 million. As a group, equities research analysts forecast that Aviat Networks will post 1.18 earnings per share for the current fiscal year.

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.