B. Riley Lowers Aviat Networks (NASDAQ:AVNW) Price Target to $55.00

Aviat Networks (NASDAQ:AVNW) had its price objective lowered by equities researchers at B. Riley from $59.00 to $55.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s target price points to a potential upside of 83.88% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of Aviat Networks from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. JMP Securities reissued a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a research note on Monday, February 5th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $53.75.

Aviat Networks Price Performance

AVNW traded up $1.52 on Thursday, reaching $29.91. The stock had a trading volume of 221,578 shares, compared to its average volume of 112,366. The company has a current ratio of 2.12, a quick ratio of 1.63 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $375.67 million, a price-to-earnings ratio of 26.47 and a beta of 1.78. Aviat Networks has a fifty-two week low of $21.15 and a fifty-two week high of $38.85. The firm has a 50-day moving average of $34.92 and a 200-day moving average of $32.32.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. The business had revenue of $111.61 million for the quarter, compared to analyst estimates of $113.56 million. During the same quarter last year, the firm posted $0.61 EPS. As a group, sell-side analysts anticipate that Aviat Networks will post 3.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AVNW. Quantbot Technologies LP bought a new position in Aviat Networks in the third quarter worth approximately $31,000. Tower Research Capital LLC TRC increased its stake in Aviat Networks by 582.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock valued at $77,000 after purchasing an additional 2,005 shares in the last quarter. SG Americas Securities LLC acquired a new position in Aviat Networks during the third quarter worth $149,000. BNP Paribas Financial Markets lifted its stake in shares of Aviat Networks by 84.8% in the first quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock valued at $210,000 after buying an additional 2,513 shares in the last quarter. Finally, Bailard Inc. acquired a new position in shares of Aviat Networks during the fourth quarter valued at about $255,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.