Aviat Networks (NASDAQ:AVNW) Downgraded to Sell Rating by StockNews.com

Aviat Networks (NASDAQ:AVNW) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also commented on AVNW. Northland Securities decreased their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Roth Mkm decreased their price objective on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday. B. Riley decreased their price objective on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Lake Street Capital decreased their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.60.

Aviat Networks Price Performance

Shares of Aviat Networks stock traded up $0.16 during mid-day trading on Thursday, reaching $13.86. 599,953 shares of the stock were exchanged, compared to its average volume of 118,103. The company has a market cap of $175.69 million, a price-to-earnings ratio of -44.71 and a beta of 1.81. The company has a current ratio of 1.85, a quick ratio of 1.57 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $22.37 and a 200 day simple moving average of $27.08. Aviat Networks has a fifty-two week low of $12.95 and a fifty-two week high of $38.85.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. Aviat Networks had a net margin of 2.89% and a return on equity of 13.47%. The business had revenue of $116.66 million during the quarter. On average, sell-side analysts predict that Aviat Networks will post 2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in shares of Aviat Networks in the 2nd quarter valued at approximately $29,000. NBC Securities Inc. acquired a new stake in shares of Aviat Networks in the 3rd quarter valued at approximately $62,000. BNP Paribas Financial Markets raised its position in shares of Aviat Networks by 84.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock valued at $210,000 after acquiring an additional 2,513 shares during the period. Covestor Ltd raised its position in shares of Aviat Networks by 309.8% in the 1st quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock valued at $228,000 after acquiring an additional 4,486 shares during the period. Finally, Truvestments Capital LLC raised its position in shares of Aviat Networks by 26.2% in the 1st quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock valued at $408,000 after acquiring an additional 2,213 shares during the period. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.