Aviat Networks (NASDAQ:AVNW) Downgraded by Wall Street Zen to Hold

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

Other research analysts have also issued reports about the stock. Zacks Research upgraded shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. B. Riley Financial restated 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Citizens Jmp reiterated a “market outperform” rating and set a $30.00 price objective on shares of Aviat Networks in a research report on Wednesday, February 4th. Finally, Roth Mkm decreased their price objective on Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Aviat Networks Trading Down 3.5%

Shares of AVNW opened at $22.93 on Friday. Aviat Networks has a 1-year low of $15.80 and a 1-year high of $27.02. The company has a market capitalization of $295.80 million, a P/E ratio of 20.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.85 and a quick ratio of 1.56. The firm’s 50 day simple moving average is $24.38 and its 200 day simple moving average is $23.10.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. The business had revenue of $111.47 million during 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%. Sell-side analysts forecast that Aviat Networks will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Pete A. Smith sold 17,086 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $26.33, for a total transaction of $449,874.38. Following the completion of the sale, the chief executive officer owned 358,747 shares of the company’s stock, valued at approximately $9,445,808.51. This represents a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Gary Croke sold 6,914 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $26.20, for a total transaction of $181,146.80. Following the completion of the transaction, the senior vice president owned 43,868 shares in the company, valued at $1,149,341.60. This represents a 13.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Aviat Networks

A number of large investors have recently added to or reduced their stakes in AVNW. Quarry LP purchased a new position in shares of Aviat Networks in the third quarter valued at about $27,000. Raymond James Financial Inc. bought a new position in shares of Aviat Networks during the second quarter valued at about $28,000. Potomac Capital Management Inc. purchased a new stake in shares of Aviat Networks during the fourth quarter worth about $43,000. Comerica Bank boosted its holdings in shares of Aviat Networks by 40.2% during 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. Finally, BNP Paribas Financial Markets grew its stake in shares of Aviat Networks by 96.5% in the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 1,120 shares during the last quarter. 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.