Aviat Networks (NASDAQ:AVNW) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Aviat Networks (NASDAQ:AVNW) from a hold rating to a buy rating in a report published on Wednesday.

AVNW has been the subject of a number of other reports. B. Riley reduced their target price on shares of Aviat Networks from $59.00 to $55.00 and set a buy rating for the company in a report on Thursday, May 2nd. JMP Securities reaffirmed a market outperform rating and issued a $50.00 price objective on shares of Aviat Networks in a research note on Monday, February 5th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $53.75.

Aviat Networks Price Performance

Shares of NASDAQ:AVNW opened at $30.30 on Wednesday. The firm’s 50 day moving average is $33.63 and its two-hundred day moving average is $32.74. Aviat Networks has a 52 week low of $25.08 and a 52 week high of $38.85. The firm has a market capitalization of $380.57 million, a P/E ratio of 26.81 and a beta of 1.78. The company has a current ratio of 2.12, a quick ratio of 1.79 and a debt-to-equity ratio of 0.18.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. The firm had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. During the same quarter in the previous year, the business posted $0.61 EPS. Analysts anticipate that Aviat Networks will post 2.96 earnings per share for the current year.

Insider Buying and Selling at Aviat Networks

In related news, CEO Pete A. Smith bought 1,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average price of $30.70 per share, with a total value of $30,700.00. Following the purchase, the chief executive officer now directly owns 242,199 shares of the company’s stock, valued at approximately $7,435,509.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AVNW. LSV Asset Management raised its holdings in shares of Aviat Networks by 12.8% during the 3rd quarter. LSV Asset Management now owns 367,691 shares of the communications equipment provider’s stock valued at $11,472,000 after purchasing an additional 41,850 shares in the last quarter. Quantbot Technologies LP acquired a new position in Aviat Networks during the 3rd quarter worth $31,000. First Eagle Investment Management LLC boosted its holdings in 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 period. Campbell & CO Investment Adviser LLC boosted its holdings in Aviat Networks by 4.3% during the third 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. Finally, Paradigm Capital Management Inc. NY boosted its holdings in Aviat Networks by 16.8% during the third quarter. Paradigm Capital Management Inc. NY now owns 877,812 shares of the communications equipment provider’s stock valued at $27,388,000 after acquiring an additional 126,101 shares during the period. Institutional investors own 78.62% of the company’s stock.

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.