Aviat Networks (NASDAQ:AVNW) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Aviat Networks (NASDAQ:AVNW) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on AVNW. Lake Street Capital reaffirmed a “buy” rating and set a $34.00 target price on shares of Aviat Networks in a research report on Wednesday, November 5th. B. Riley reaffirmed a “buy” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Aviat Networks in a research report on Wednesday, November 5th. Wall Street Zen raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Aviat Networks presently has an average rating of “Hold” and a consensus price target of $33.00.

Aviat Networks Stock Performance

Shares of AVNW stock opened at $21.06 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.51. The firm has a 50-day moving average of $22.50 and a 200-day moving average of $22.77. Aviat Networks has a one year low of $15.80 and a one year high of $26.83. The company has a market cap of $270.41 million, a P/E ratio of 20.45 and a beta of 0.92.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.75 EPS for the quarter. Aviat Networks had a net margin of 2.95% and a return on equity of 12.04%. The firm had revenue of $81.25 million during the quarter. Equities research analysts forecast that Aviat Networks will post 0.5 EPS for the current fiscal year.

Insider Activity at Aviat Networks

In related news, CEO Pete A. Smith sold 5,350 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total transaction of $125,136.50. Following the sale, the chief executive officer directly owned 349,447 shares in the company, valued at approximately $8,173,565.33. This represents a 1.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce M. Taten sold 3,268 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total value of $76,438.52. Following the sale, the director directly owned 20,391 shares in the company, valued at $476,945.49. This trade represents a 13.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

A number of institutional investors have recently added to or reduced their stakes in AVNW. Invesco Ltd. boosted its position in shares of Aviat Networks by 23.0% during the 1st quarter. Invesco Ltd. now owns 24,106 shares of the communications equipment provider’s stock valued at $462,000 after acquiring an additional 4,515 shares during the last quarter. Nuveen LLC purchased a new position in Aviat Networks in the 1st quarter worth approximately $3,366,000. American Century Companies Inc. grew its stake in Aviat Networks by 146.0% in the 1st quarter. American Century Companies Inc. now owns 56,209 shares of the communications equipment provider’s stock worth $1,078,000 after buying an additional 33,364 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Aviat Networks in the 1st quarter worth $425,000. Finally, Comerica Bank raised its position in shares of Aviat Networks by 40.2% during 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 in the last quarter. 78.62% of the stock is currently owned by institutional investors.

Aviat Networks Company Profile

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.