Aviat Networks, Inc. (NASDAQ:AVNW) Stock Has Consensus Price Target of $32.71

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) have been given an average rating of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $32.71.

Several analysts have weighed in on AVNW shares. Rafferty Capital Markets initiated coverage on Aviat Networks in a research note on Tuesday, June 30th. They set a “buy” rating and a $36.00 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Aviat Networks in a report on Friday, August 28th. Craig Hallum started coverage on Aviat Networks in a research report on Tuesday, June 30th. They issued a “buy” rating and a $36.00 target price on the stock. B. Riley Financial reiterated a “buy” rating and issued a $33.00 price target (up from $28.00) on shares of Aviat Networks in a report on Friday, August 28th. Finally, Roth Capital reissued a “buy” rating and set a $38.00 price target (up from $34.00) on shares of Aviat Networks in a research report on Friday, August 28th.

Aviat Networks Trading Up 0.5%

NASDAQ AVNW opened at $19.95 on Friday. Aviat Networks has a 12-month low of $13.92 and a 12-month high of $27.02. The company has a fifty day simple moving average of $20.50 and a two-hundred day simple moving average of $20.61. The company has a current ratio of 1.97, a quick ratio of 1.66 and a debt-to-equity ratio of 0.33. The stock has a market cap of $256.56 million, a P/E ratio of 105.00 and a beta of 0.70.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. The firm had revenue of $120.89 million for the quarter, compared to analyst estimates of $110.12 million. On average, analysts forecast that Aviat Networks will post 2.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Erin Boase sold 1,347 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $19.69, for a total transaction of $26,522.43. Following the completion of the transaction, the vice president owned 28,275 shares of the company’s stock, valued at $556,734.75. This trade represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Pete Smith sold 14,264 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $19.69, for a total transaction of $280,858.16. Following the transaction, the chief executive officer directly owned 367,840 shares of the company’s stock, valued at approximately $7,242,769.60. This trade represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,240 shares of company stock worth $319,766 in the last quarter. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

A number of institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd raised its position in Aviat Networks by 6.1% during the second quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider’s stock valued at $268,000 after acquiring an additional 692 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Aviat Networks in the second quarter valued at approximately $1,095,000. Public Employees Retirement System of Ohio purchased a new stake in Aviat Networks in the 2nd quarter worth approximately $274,000. Ancora Advisors LLC purchased a new stake in Aviat Networks in the 2nd quarter worth approximately $55,000. Finally, Tieton Capital Management LLC acquired a new stake in shares of Aviat Networks during the 2nd quarter worth approximately $15,017,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.

About Aviat Networks

Aviat Networks, Inc is a provider of wireless networking solutions for communications and critical infrastructure markets. The company designs and supplies microwave and millimeter-wave radio systems, routers, network management software, and related hardware used to transport voice, data, and video traffic.

Its products support a range of applications, including mobile network backhaul and access, broadband connectivity, private enterprise networks, public safety communications, utilities, transportation systems, government networks, and other industrial operations.