Aviat Networks, Inc. (NASDAQ:AVNW) Receives Average Rating of “Moderate Buy” from Brokerages

Aviat Networks, Inc. (NASDAQ:AVNW) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $33.1429.

A number of equities research analysts have issued reports on the company. Citigroup raised Aviat Networks to an “outperform” rating in a research report on Monday, June 15th. Lake Street Capital set a $31.00 price objective on shares of Aviat Networks and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Craig Hallum initiated coverage on shares of Aviat Networks in a report on Tuesday. They set a “buy” rating and a $36.00 price objective for the company. Rafferty Capital Markets initiated coverage on shares of Aviat Networks in a report on Tuesday, June 30th. They set a “buy” rating and a $36.00 price objective for the company. Finally, 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.

Institutional Investors Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank increased its stake in shares of Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 780 shares during the period. Royal Bank of Canada boosted its stake in Aviat Networks by 290.7% during the 1st quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider’s stock valued at $783,000 after purchasing an additional 30,413 shares during the period. AQR Capital Management LLC boosted its stake in Aviat Networks by 20.6% during the 1st quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider’s stock valued at $1,629,000 after purchasing an additional 14,498 shares during the period. Jane Street Group LLC grew its holdings in Aviat Networks by 6.9% in the 1st quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider’s stock valued at $500,000 after buying an additional 1,683 shares during the last quarter. Finally, Rhumbline Advisers grew 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 buying an additional 1,148 shares during the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Stock Performance

Shares of NASDAQ:AVNW opened at $21.17 on Friday. The stock has a market capitalization of $273.94 million, a PE ratio of 30.68 and a beta of 0.70. Aviat Networks has a 1 year low of $13.92 and a 1 year high of $27.02. The firm has a fifty day moving average price of $18.90 and a 200 day moving average price of $21.63. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.36). Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%. The company had revenue of $100.00 million for the quarter, compared to the consensus estimate of $106.39 million. Analysts expect that Aviat Networks will post 1.14 EPS for the current fiscal year.

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.