Aviat Networks (NASDAQ:AVNW) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Aviat Networks (NASDAQ:AVNW) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings lowered Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Lake Street Capital set a $31.00 price objective on shares of Aviat Networks and gave the company a “buy” rating in a research report on Tuesday, May 5th. Citizens Jmp decreased 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 report on Wednesday, May 6th. Citigroup raised shares of Aviat Networks to an “outperform” rating in a research report on Monday, June 15th. Finally, Rafferty Capital Markets assumed coverage on shares of Aviat Networks in a research report on Tuesday, June 30th. They set a “buy” rating and a $36.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.14.

Aviat Networks Price Performance

AVNW stock opened at $20.54 on Monday. The firm’s 50-day moving average price is $18.81 and its two-hundred day moving average price is $21.63. Aviat Networks has a 12-month low of $13.92 and a 12-month high of $27.02. The stock has a market capitalization of $265.79 million, a price-to-earnings ratio of 29.77 and a beta of 0.70. 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 analysts’ consensus estimates of $0.42 by ($0.36). The firm had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $106.39 million. Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%. As a group, equities analysts predict that Aviat Networks will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Aviat Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Aviat Networks during the 2nd quarter valued at $28,000. Quarry LP bought a new position in shares of Aviat Networks in the 3rd quarter worth about $27,000. Potomac Capital Management Inc. purchased a new position in Aviat Networks during the 4th quarter valued at about $43,000. BNP Paribas Financial Markets lifted its position in Aviat Networks by 96.5% during 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. Finally, Fifth Third Bancorp bought a new stake in Aviat Networks during the first quarter worth about $53,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.

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.