Aviat Networks (NASDAQ:AVNW) Stock Rating Upgraded by StockNews.com

Aviat Networks (NASDAQ:AVNW) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other equities analysts also recently commented on AVNW. JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research report on Monday, February 5th. B. Riley reduced their price target on Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Aviat Networks currently has an average rating of “Buy” and an average price target of $53.75.

Aviat Networks Trading Up 5.3 %

Shares of AVNW opened at $29.91 on Friday. Aviat Networks has a 52-week low of $21.15 and a 52-week high of $38.85. The stock has a market cap of $375.67 million, a PE ratio of 26.47 and a beta of 1.78. The firm’s fifty day moving average is $34.92 and its two-hundred day moving average is $32.36. The company has a quick ratio of 1.63, a current ratio of 2.12 and a debt-to-equity ratio of 0.18.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $111.61 million for the quarter, compared to analyst estimates of $113.56 million. Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Research analysts forecast that Aviat Networks will post 3.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Aviat Networks in the third quarter valued at $149,000. LSV Asset Management lifted its position in Aviat Networks by 12.8% in the third quarter. LSV Asset Management now owns 367,691 shares of the communications equipment provider’s stock valued at $11,472,000 after buying an additional 41,850 shares during the last quarter. Quantbot Technologies LP purchased a new position in Aviat Networks during the third quarter worth about $31,000. First Eagle Investment Management LLC increased its position in shares of Aviat Networks by 9.3% during the third quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock valued at $6,214,000 after acquiring an additional 16,875 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of Aviat Networks by 4.3% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $531,000 after acquiring an additional 709 shares during the period. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.