Aviat Networks (NASDAQ:AVNW) Cut to Strong Sell at Zacks Research

Aviat Networks (NASDAQ:AVNW) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently commented on AVNW. Weiss Ratings reiterated a “hold (c-)” rating on shares of Aviat Networks in a research report on Monday. Lake Street Capital reaffirmed a “buy” rating and set a $34.00 target price on shares of Aviat Networks in a report on Wednesday, November 5th. B. Riley reiterated a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Aviat Networks in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Three equities research 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. According to data from MarketBeat, Aviat Networks has an average rating of “Hold” and an average price target of $33.00.

Aviat Networks Stock Up 0.2%

AVNW stock opened at $21.06 on Monday. The stock has a market capitalization of $270.41 million, a P/E ratio of 20.45 and a beta of 0.92. Aviat Networks has a 52 week low of $15.80 and a 52 week high of $26.83. The firm has a 50-day simple moving average of $22.50 and a 200-day simple moving average of $22.77. The company has a quick ratio of 1.51, a current ratio of 1.84 and a debt-to-equity ratio of 0.39.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.75 earnings per share (EPS) for the quarter. Aviat Networks had a return on equity of 12.04% and a net margin of 2.95%.The company had revenue of $81.25 million for the quarter. Equities analysts forecast that Aviat Networks will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at Aviat Networks

In other Aviat Networks news, CEO Pete A. Smith sold 5,350 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total value of $125,136.50. Following the transaction, the chief executive officer directly owned 349,447 shares in the company, valued at $8,173,565.33. The trade was a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce M. Taten sold 3,268 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total transaction of $76,438.52. Following the sale, the director owned 20,391 shares of the company’s stock, valued at $476,945.49. This represents a 13.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVNW. Quarry LP purchased a new stake in Aviat Networks in the third quarter valued at $27,000. Raymond James Financial Inc. acquired a new stake in shares of Aviat Networks during the 2nd quarter worth about $28,000. Comerica Bank raised its holdings in Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 780 shares during the period. BNP Paribas Financial Markets lifted its position in Aviat Networks by 96.5% in the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 1,120 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Aviat Networks during the third quarter valued at about $63,000. 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.