Aviat Networks (NASDAQ:AVNW) Now Covered by Analysts at Rafferty Capital Markets

Equities researchers at Rafferty Capital Markets started coverage on shares of Aviat Networks (NASDAQ:AVNW) in a research note issued on Tuesday. The firm set a “buy” rating and a $36.00 price target on the communications equipment provider’s stock. Rafferty Capital Markets’ target price indicates a potential upside of 73.66% from the company’s previous close.

Several other research firms have also issued reports on AVNW. Zacks Research lowered shares of Aviat Networks from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Citigroup upgraded Aviat Networks to an “outperform” rating in a research note on Monday, June 15th. Weiss Ratings downgraded Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Wall Street Zen lowered Aviat Networks from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Finally, Lake Street Capital set a $31.00 price objective on Aviat Networks and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Aviat Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

Aviat Networks Stock Up 1.3%

NASDAQ AVNW opened at $20.73 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The company has a market cap of $268.23 million, a price-to-earnings ratio of 30.04 and a beta of 0.74. The company has a 50 day moving average of $18.97 and a 200-day moving average of $21.62. Aviat Networks has a 1-year low of $13.92 and a 1-year high of $27.02.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). The company had revenue of $100.00 million during the quarter, compared to analyst estimates of $106.39 million. Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%. On average, equities research analysts expect that Aviat Networks will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds have recently modified their holdings of the business. Comerica Bank raised its position in Aviat Networks by 40.2% during the 1st 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 last quarter. Royal Bank of Canada raised its position 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 acquiring an additional 30,413 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Aviat Networks by 20.6% in the first 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 during the period. Jane Street Group LLC boosted its holdings in 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 last quarter. Finally, Rhumbline Advisers boosted its holdings in Aviat Networks by 6.7% in the second quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock valued at $441,000 after acquiring an additional 1,148 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

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.