Aviat Networks (NASDAQ:AVNW) Stock Rating Upgraded by Zacks Research

Aviat Networks (NASDAQ:AVNW) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.

Several other equities research analysts have also recently commented on the stock. Roth Capital reiterated 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. Citigroup restated a “market outperform” rating on shares of Aviat Networks in a report on Friday, August 28th. Wall Street Zen raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. B. Riley Financial restated a “buy” rating and issued a $33.00 target price (up from $28.00) on shares of Aviat Networks in a research note on Friday, August 28th. Finally, Weiss Ratings lowered shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 30th. Eight investment 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.71.

Aviat Networks Price Performance

Shares of NASDAQ AVNW opened at $17.66 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97. Aviat Networks has a fifty-two week low of $13.92 and a fifty-two week high of $27.02. The business has a 50-day simple moving average of $19.85 and a two-hundred day simple moving average of $21.09. The company has a market cap of $227.11 million, a PE ratio of 92.95 and a beta of 0.77.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.09. The firm had revenue of $120.89 million during the quarter, compared to analysts’ expectations of $110.12 million. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%. As a group, equities analysts expect that Aviat Networks will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling at Aviat Networks

In related news, CEO Pete Smith sold 14,264 shares of Aviat Networks stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $19.69, for a total value of $280,858.16. Following the sale, the chief executive officer owned 367,840 shares of the company’s stock, valued at approximately $7,242,769.60. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Erin Boase sold 1,347 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $19.69, for a total value of $26,522.43. Following the sale, the vice president owned 28,275 shares in the company, valued at approximately $556,734.75. This represents a 4.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,240 shares of company stock valued at $319,766 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aviat Networks

A number of institutional investors and hedge funds have recently modified their holdings of AVNW. Tieton Capital Management LLC acquired a new stake in shares of Aviat Networks in the 2nd quarter valued at about $15,017,000. First Wilshire Securities Management Inc. raised its position in shares of Aviat Networks by 1.0% in the 1st quarter. First Wilshire Securities Management Inc. now owns 529,533 shares of the communications equipment provider’s stock valued at $11,973,000 after acquiring an additional 5,302 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Aviat Networks by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 432,521 shares of the communications equipment provider’s stock valued at $9,779,000 after acquiring an additional 25,374 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Aviat Networks by 122.2% during the first quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider’s stock worth $9,775,000 after buying an additional 237,761 shares in the last quarter. Finally, Aristides Capital LLC boosted its holdings in shares of Aviat Networks by 9.6% during the 1st quarter. Aristides Capital LLC now owns 114,691 shares of the communications equipment provider’s stock valued at $2,593,000 after acquiring an additional 10,016 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

About Aviat Networks

Aviat Networks, Inc provides wireless networking solutions for communications service providers, government agencies and enterprises. The company specializes in mission-critical connectivity for applications where reliable, high-capacity communications are essential, including telecommunications, public safety, utilities, transportation and defense.

Its product portfolio includes microwave and millimeter-wave wireless transmission systems, routers, access and aggregation equipment, network management software and related cybersecurity solutions.