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

Aviat Networks, Inc. (NASDAQ:AVNW) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.7143.

A number of research analysts recently weighed in on AVNW shares. Roth Capital reaffirmed a “buy” rating and issued a $38.00 price target (up from $34.00) on shares of Aviat Networks in a research note on Friday, August 28th. Rafferty Capital Markets began coverage on Aviat Networks in a research note on Tuesday, June 30th. They set a “buy” rating and a $36.00 target price for the company. B. Riley Financial reissued a “buy” rating and issued a $33.00 target price (up from $28.00) on shares of Aviat Networks in a research report on Friday, August 28th. Northland Securities upped their target price on shares of Aviat Networks from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Citigroup reissued a “market outperform” rating on shares of Aviat Networks in a research report on Friday, August 28th.

Aviat Networks Stock Up 2.0%

AVNW stock opened at $20.58 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97. Aviat Networks has a one year low of $13.92 and a one year high of $27.02. The firm’s fifty day moving average is $20.60 and its 200 day moving average is $20.81. The firm has a market cap of $263.47 million, a PE ratio of 108.32 and a beta of 0.70.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The company had revenue of $120.89 million during the quarter, compared to analysts’ expectations of $110.12 million. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%. On average, research analysts forecast that Aviat Networks will post 2.24 EPS for the current year.

Insider Activity at Aviat Networks

In other Aviat Networks news, CEO Pete Smith sold 14,264 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $19.69, for a total transaction of $280,858.16. Following the transaction, the chief executive officer owned 367,840 shares of the company’s stock, valued at approximately $7,242,769.60. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Erin Boase sold 1,347 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $19.69, for a total value of $26,522.43. Following the sale, the vice president directly owned 28,275 shares of the company’s stock, valued at approximately $556,734.75. This represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,240 shares of company stock valued at $319,766 in the last 90 days. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Aviat Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd raised its position in shares of Aviat Networks by 6.1% during the 2nd quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider’s stock worth $268,000 after purchasing an additional 692 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Aviat Networks during the second quarter worth about $1,095,000. Public Employees Retirement System of Ohio purchased a new position in Aviat Networks during the second quarter worth approximately $274,000. Ancora Advisors LLC acquired a new stake in Aviat Networks during the second quarter worth about $55,000. Finally, Tieton Capital Management LLC acquired a new stake in shares of Aviat Networks in the second quarter worth $15,017,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Aviat Networks Company Profile

Aviat Networks, Inc is a provider of wireless networking solutions for communications and critical infrastructure markets. The company designs and supplies microwave and millimeter-wave radio systems, routers, network management software, and related hardware used to transport voice, data, and video traffic.

Its products support a range of applications, including mobile network backhaul and access, broadband connectivity, private enterprise networks, public safety communications, utilities, transportation systems, government networks, and other industrial operations.