Aviat Networks, Inc. (NASDAQ:AVNW) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) have received an average recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.00.

A number of research analysts recently issued reports on AVNW shares. Northland Securities reiterated a “market perform” rating and issued a $20.00 price objective on shares of Aviat Networks in a report on Tuesday, May 5th. B. Riley Financial reiterated a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Roth Mkm cut their price target on shares of 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 lowered shares of Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital set a $31.00 price target on shares of Aviat Networks and gave the stock a “buy” rating in a report on Tuesday, May 5th.

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds have recently modified their holdings of AVNW. Comerica Bank lifted its holdings in shares of Aviat Networks by 40.2% during the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 780 shares during the period. Royal Bank of Canada raised its holdings in Aviat Networks by 290.7% during the 1st quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider’s stock worth $783,000 after purchasing an additional 30,413 shares during the last quarter. AQR Capital Management LLC raised its holdings in Aviat Networks by 20.6% during the 1st quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider’s stock worth $1,629,000 after purchasing an additional 14,498 shares during the last quarter. Jane Street Group LLC raised its holdings in Aviat Networks by 6.9% during the 1st quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider’s stock worth $500,000 after purchasing an additional 1,683 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Aviat Networks by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock worth $441,000 after purchasing an additional 1,148 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Trading Up 1.7%

Shares of Aviat Networks stock opened at $15.99 on Friday. The company has a market capitalization of $206.91 million, a price-to-earnings ratio of 23.17 and a beta of 0.82. The company has a quick ratio of 1.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.36. Aviat Networks has a 12-month low of $13.92 and a 12-month high of $27.02. The firm’s 50-day moving average price is $21.33 and its two-hundred day moving average price is $22.23.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The firm had revenue of $100.00 million for the quarter, compared to analyst estimates of $106.39 million. Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%. On average, analysts forecast that Aviat Networks will post 1.19 earnings per share for the current fiscal year.

Aviat Networks Company Profile

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.