B. Riley Trims Aviat Networks (NASDAQ:AVNW) Target Price to $55.00

Aviat Networks (NASDAQ:AVNW) had its price objective reduced by B. Riley from $59.00 to $55.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

AVNW has been the topic of a number of other reports. StockNews.com upgraded Aviat Networks from a sell rating to a hold rating in a research report on Thursday, April 4th. JMP Securities reissued a market outperform rating and set a $50.00 price objective on shares of Aviat Networks in a research report on Monday, February 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Aviat Networks has an average rating of Buy and a consensus target price of $53.75.

Aviat Networks Trading Up 5.3 %

Shares of NASDAQ:AVNW traded up $1.52 during trading on Thursday, reaching $29.91. 221,578 shares of the company traded hands, compared to its average volume of 112,366. The company has a current ratio of 2.12, a quick ratio of 1.63 and a debt-to-equity ratio of 0.18. Aviat Networks has a 52-week low of $21.15 and a 52-week high of $38.85. The business’s fifty day moving average is $34.92 and its 200-day moving average is $32.36. The firm has a market capitalization of $375.67 million, a price-to-earnings ratio of 26.47 and a beta of 1.78.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $111.61 million during the quarter, compared to the consensus estimate of $113.56 million. Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. During the same period last year, the business earned $0.61 EPS. As a group, analysts forecast that Aviat Networks will post 3.01 EPS for the current year.

Institutional Trading of Aviat Networks

A number of hedge funds have recently modified their holdings of AVNW. Campbell & CO Investment Adviser LLC lifted its position in Aviat Networks by 4.3% during the 3rd 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. LVZ Inc. lifted its holdings in shares of Aviat Networks by 11.2% during the fourth quarter. LVZ Inc. now owns 8,268 shares of the communications equipment provider’s stock valued at $270,000 after purchasing an additional 834 shares during the last quarter. Watershed Asset Management L.L.C. boosted its position in shares of Aviat Networks by 9.9% in the 4th quarter. Watershed Asset Management L.L.C. now owns 9,346 shares of the communications equipment provider’s stock worth $305,000 after purchasing an additional 841 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Aviat Networks in the 3rd quarter worth approximately $31,000. Finally, SG Americas Securities LLC increased its position in Aviat Networks by 30.4% during the 4th quarter. SG Americas Securities LLC now owns 6,218 shares of the communications equipment provider’s stock valued at $203,000 after buying an additional 1,450 shares in the last quarter. 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.