Aviat Networks (NASDAQ:AVNW) Stock Rating Upgraded by Wall Street Zen

Aviat Networks (NASDAQ:AVNW) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

AVNW has been the topic of a number of other reports. Northland Securities raised their price target on Aviat Networks from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Citigroup restated a “market outperform” rating on shares of Aviat Networks in a research report on Friday, August 28th. Roth Capital reissued a “buy” rating and set a $38.00 target price (up from $34.00) on shares of Aviat Networks in a report on Friday, August 28th. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Rafferty Capital Markets started coverage on Aviat Networks in a report on Tuesday, June 30th. They issued a “buy” rating and a $36.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.71.

Aviat Networks Price Performance

Shares of NASDAQ AVNW opened at $20.68 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.33. 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 moving average price of $20.44 and a two-hundred day moving average price of $20.39. The firm has a market cap of $265.94 million, a PE ratio of 108.84 and a beta of 0.68.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $110.12 million. Sell-side analysts expect that Aviat Networks will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Aviat Networks

In other Aviat Networks news, VP Erin Boase sold 1,347 shares of Aviat Networks 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 directly owned 28,275 shares of the company’s stock, valued at $556,734.75. The trade was a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Pete Smith sold 14,264 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $19.69, for a total transaction of $280,858.16. Following the completion of the transaction, the chief executive officer owned 367,840 shares in the company, valued at approximately $7,242,769.60. This trade represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,240 shares of company stock valued at $319,766 in the last ninety days. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

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

Aviat Networks Company Profile

Aviat Networks, Inc (NASDAQ: AVNW) provides wireless networking solutions for communications service providers, private networks, government agencies, utilities, transportation organizations, and other critical infrastructure operators. The company specializes in connecting locations where fiber is unavailable, impractical, or requires a complementary wireless link.

Its portfolio includes microwave and millimeter-wave wireless transport systems, packet-based networking equipment, routers, wireless access products, network management software, and related installation, support, and professional services.