Aviat Networks (NASDAQ:AVNW) Upgraded at Craig Hallum

Aviat Networks (NASDAQ:AVNW) was upgraded by analysts at Craig Hallum to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on AVNW. Rafferty Capital Markets began coverage on shares of Aviat Networks in a research report on Tuesday. They issued a “buy” rating and a $36.00 target price on the stock. Citigroup upgraded shares of Aviat Networks to an “outperform” rating in a research note on Monday, June 15th. Zacks Research downgraded Aviat Networks from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Citizens Jmp decreased their target price on 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. Finally, Northland Securities upgraded Aviat Networks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $20.00 to $25.00 in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.43.

Aviat Networks Price Performance

Aviat Networks stock opened at $22.46 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $18.96 and a 200-day simple moving average of $21.63. The stock has a market cap of $290.63 million, a P/E ratio of 32.55 and a beta of 0.70. Aviat Networks has a 12-month low of $13.92 and a 12-month high of $27.02.

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

Institutional Trading of Aviat Networks

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank grew its stake in shares of Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 780 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Aviat Networks by 96.5% during 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 period. Rhumbline Advisers grew its position 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. Raymond James Financial Inc. purchased a new position in Aviat Networks in the 2nd quarter valued at $28,000. Finally, Quarry LP acquired a new position in Aviat Networks in the 3rd quarter valued at $27,000. 78.62% of the stock is 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.