Aviat Networks, Inc. (NASDAQ:AVNW) Receives Average Recommendation of “Moderate Buy” from Analysts

Aviat Networks, Inc. (NASDAQ:AVNW) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $33.1429.

A number of equities analysts recently weighed in on the stock. Lake Street Capital set a $31.00 price target on shares of Aviat Networks and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Northland Securities increased their price objective on shares of Aviat Networks from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Wall Street Zen lowered shares of Aviat Networks from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Citigroup upgraded Aviat Networks to an “outperform” rating in a report on Monday, June 15th. Finally, Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th.

Hedge Funds Weigh In On Aviat Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVNW. Comerica Bank increased its stake in shares of Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 780 shares during the last quarter. Royal Bank of Canada boosted its position in shares of 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 valued at $783,000 after acquiring an additional 30,413 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of 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 valued at $1,629,000 after acquiring an additional 14,498 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Aviat Networks by 6.9% in the first quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider’s stock valued at $500,000 after purchasing an additional 1,683 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Aviat Networks by 6.7% in the second quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock valued at $441,000 after purchasing an additional 1,148 shares during the period. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Stock Down 0.8%

NASDAQ AVNW opened at $21.25 on Thursday. The business has a fifty day moving average price of $20.21 and a 200 day moving average price of $21.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.67 and a current ratio of 1.99. The company has a market cap of $274.95 million, a P/E ratio of 30.80 and a beta of 0.70. Aviat Networks has a one year low of $13.92 and a one year high of $27.02.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.36). Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%.The business had revenue of $100.00 million for the quarter, compared to analyst estimates of $106.39 million. Research analysts anticipate that Aviat Networks will post 1.14 EPS for the current fiscal year.

About Aviat Networks

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.