Aviat Networks (NASDAQ:AVNW) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Aviat Networks (NASDAQ:AVNW) from a hold rating to a buy rating in a research note released on Saturday.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Aviat Networks in a research report on Monday, December 29th. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $30.00 target price on shares of Aviat Networks in a report on Wednesday, February 4th. Roth Mkm reduced their target price on Aviat Networks from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Finally, B. Riley Financial reiterated a “buy” rating and set a $36.00 price target (up from $35.00) on shares of Aviat Networks in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Aviat Networks Stock Down 1.8%

AVNW opened at $24.62 on Friday. The company has a 50 day moving average of $23.77 and a 200 day moving average of $22.94. The company has a market cap of $317.60 million, a PE ratio of 21.98 and a beta of 0.84. Aviat Networks has a 12 month low of $15.80 and a 12 month high of $27.02. The company has a current ratio of 1.85, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The business had revenue of $111.47 million for the quarter, compared to analysts’ expectations of $109.67 million. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%. On average, sell-side analysts expect that Aviat Networks will post 0.5 EPS for the current year.

Insider Transactions at Aviat Networks

In other Aviat Networks news, SVP Gary Croke sold 6,914 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $26.20, for a total value of $181,146.80. Following the sale, the senior vice president owned 43,868 shares of the company’s stock, valued at $1,149,341.60. This trade represents a 13.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Pete A. Smith sold 17,086 shares of Aviat Networks stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $26.33, for a total value of $449,874.38. Following the sale, the chief executive officer owned 358,747 shares of the company’s stock, valued at approximately $9,445,808.51. This trade represents a 4.55% decrease in their position. The SEC filing for this sale provides additional information. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aviat Networks

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Aviat Networks by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 700,233 shares of the communications equipment provider’s stock valued at $16,056,000 after buying an additional 8,179 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Aviat Networks by 8.5% during the 4th quarter. Royce & Associates LP now owns 648,235 shares of the communications equipment provider’s stock worth $13,859,000 after acquiring an additional 51,000 shares during the last quarter. First Wilshire Securities Management Inc. grew its position in Aviat Networks by 22.2% in the second quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider’s stock worth $12,780,000 after acquiring an additional 96,367 shares in the last quarter. Western Standard LLC increased its stake in Aviat Networks by 84.5% in the fourth quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock valued at $10,567,000 after acquiring an additional 226,332 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its stake in Aviat Networks by 5.8% in the third quarter. Kennedy Capital Management LLC now owns 445,947 shares of the communications equipment provider’s stock valued at $10,226,000 after acquiring an additional 24,284 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors.

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.