Aviat Networks (NASDAQ:AVNW) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Aviat Networks (NASDAQ:AVNW) from a strong sell rating to a hold rating in a report published on Thursday,Zacks reports.

Other analysts have also recently issued reports about the company. Roth Capital reiterated a “buy” rating and set a $38.00 price target (up from $34.00) on shares of Aviat Networks in a research report on Friday, August 28th. Citigroup reaffirmed a “market outperform” rating on shares of Aviat Networks in a research note on Friday, August 28th. B. Riley Financial reaffirmed a “buy” rating and set a $33.00 target price (up from $28.00) on shares of Aviat Networks in a report on Friday, August 28th. Weiss Ratings lowered shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 30th. Finally, Wall Street Zen upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.71.

Aviat Networks Price Performance

AVNW stock traded up $0.69 during trading on Thursday, hitting $17.66. The stock had a trading volume of 245,587 shares, compared to its average volume of 113,785. Aviat Networks has a twelve month low of $13.92 and a twelve month high of $27.02. The company’s 50-day moving average price is $19.85 and its two-hundred day moving average price is $21.09. 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.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $120.89 million during the quarter, compared to analysts’ expectations of $110.12 million. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%. As a group, research analysts predict that Aviat Networks will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Pete Smith sold 14,264 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $19.69, for a total transaction of $280,858.16. Following the completion of the sale, the chief executive officer directly owned 367,840 shares in the company, valued at approximately $7,242,769.60. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Erin Boase sold 1,347 shares of Aviat Networks stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $19.69, for a total transaction of $26,522.43. Following the sale, 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. In the last quarter, insiders have sold 16,240 shares of company stock worth $319,766. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVNW. Farther Finance Advisors LLC lifted its position in shares of Aviat Networks by 1,026.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,893 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 1,725 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Aviat Networks during the 1st quarter worth $53,000. Ancora Advisors LLC acquired a new position in Aviat Networks in the second quarter valued at $55,000. State of Wyoming acquired a new position in Aviat Networks in the first quarter valued at $207,000. Finally, WINTON GROUP Ltd increased its stake in Aviat Networks by 6.1% in the second quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider’s stock valued at $268,000 after purchasing an additional 692 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.