Aviat Networks (NASDAQ:AVNW) Upgraded at Zacks Research

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

AVNW has been the topic of several other reports. Roth Capital restated a “buy” rating and issued a $38.00 target price (up from $34.00) on shares of Aviat Networks in a research report on Friday, August 28th. Weiss Ratings lowered shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 30th. Citigroup restated a “market outperform” rating on shares of Aviat Networks in a research note on Friday, August 28th. Wall Street Zen upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Finally, B. Riley Financial reiterated 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. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Aviat Networks 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 $17.66 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.66. The stock has a market capitalization of $227.11 million, a P/E ratio of 92.95 and a beta of 0.77. The company’s 50-day moving average is $19.85 and its 200 day moving average is $21.09. Aviat Networks has a 1 year low of $13.92 and a 1 year high of $27.02.

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

Insider Buying and Selling

In other Aviat Networks news, CEO Pete A. Smith sold 14,264 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $280,858.16. Following the completion of the sale, the chief executive officer owned 367,840 shares in the company, valued at $7,242,769.60. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Erin Boase sold 1,347 shares of Aviat Networks stock in a transaction that occurred on Monday, August 31st. The stock was 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 in the company, valued at approximately $556,734.75. The trade was a 4.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,240 shares of company stock worth $319,766 in the last three months. 5.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aviat Networks

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

Aviat Networks Company Profile

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.