Aviat Networks (NASDAQ:AVNW) Coverage Initiated by Analysts at Rafferty Capital Markets

Analysts at Rafferty Capital Markets initiated coverage on shares of Aviat Networks (NASDAQ:AVNW) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating and a $36.00 price target on the communications equipment provider’s stock. Rafferty Capital Markets’ price objective would indicate a potential upside of 73.66% from the company’s current price.

AVNW has been the topic of several other research reports. Weiss Ratings lowered shares of Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Lake Street Capital set a $31.00 price target on shares of Aviat Networks and gave the company a “buy” rating in a report on Tuesday, May 5th. Citizens Jmp lowered their price objective on shares of Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. Citigroup raised Aviat Networks to an “outperform” rating in a research note on Monday, June 15th. Finally, Zacks Research lowered Aviat Networks from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Aviat Networks has a consensus rating of “Moderate Buy” and an average price target of $31.83.

Aviat Networks Price Performance

Shares of AVNW stock opened at $20.73 on Tuesday. The firm’s 50 day moving average price is $18.97 and its two-hundred day moving average price is $21.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.67 and a current ratio of 1.99. Aviat Networks has a 52-week low of $13.92 and a 52-week high of $27.02. The stock has a market cap of $268.23 million, a PE ratio of 30.04 and a beta of 0.74.

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

Hedge Funds Weigh In On Aviat Networks

A number of large investors have recently modified their holdings of AVNW. Comerica Bank lifted its stake in shares of Aviat Networks by 40.2% during the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 780 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Aviat Networks by 96.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 1,120 shares during the period. Rhumbline Advisers raised its holdings in Aviat Networks by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock valued at $441,000 after acquiring an additional 1,148 shares during the period. Raymond James Financial Inc. acquired a new stake in Aviat Networks during the second quarter worth approximately $28,000. Finally, Quarry LP bought a new stake in shares of Aviat Networks during the third quarter worth approximately $27,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

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.