Aviat Networks (NASDAQ:AVNW) Upgraded at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen upgraded shares of Aviat Networks (NASDAQ:AVNW – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
A number of other analysts have also recently issued reports on AVNW. Roth Mkm dropped their price objective on Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Aviat Networks in a report on Monday, December 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Aviat Networks in a research note on Wednesday, February 4th. B. Riley Financial reaffirmed a “buy” rating and set a $36.00 price objective (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Finally, Zacks Research raised shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.
Check Out Our Latest Stock Analysis on Aviat Networks
Aviat Networks Price Performance
AVNW opened at $22.50 on Friday. The company has a market capitalization of $290.25 million, a price-to-earnings ratio of 20.09 and a beta of 0.82. The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $24.00 and a 200-day moving average price of $22.90. Aviat Networks has a twelve month low of $16.65 and a twelve month high of $27.02.
Aviat Networks (NASDAQ:AVNW – Get Free Report) last posted its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. The firm had revenue of $111.47 million during the quarter, compared to the consensus estimate of $109.67 million. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%. Equities analysts expect that Aviat Networks will post 1.97 EPS for the current year.
Insider Activity at Aviat Networks
In related news, CEO Pete A. Smith sold 17,086 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $26.33, for a total transaction of $449,874.38. Following the completion of the transaction, the chief executive officer owned 358,747 shares of the company’s stock, valued at approximately $9,445,808.51. The trade was a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gary Croke sold 6,914 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $26.20, for a total transaction of $181,146.80. Following the transaction, the senior vice president directly owned 43,868 shares of the company’s stock, valued at approximately $1,149,341.60. This represents a 13.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Aviat Networks
Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in Aviat Networks during the third quarter valued at approximately $27,000. Raymond James Financial Inc. bought a new stake in Aviat Networks during the second quarter valued at approximately $28,000. Potomac Capital Management Inc. bought a new stake in Aviat Networks during the fourth quarter valued at approximately $43,000. Comerica Bank lifted its position in Aviat Networks by 40.2% during the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 780 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Aviat Networks by 96.5% during the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 1,120 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors.
About Aviat Networks
Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.
Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.