Aviat Networks (NASDAQ:AVNW) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Aviat Networks (NASDAQ:AVNW) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also issued reports on AVNW. B. Riley Financial restated a “buy” rating and issued a $33.00 price target (up from $28.00) on shares of Aviat Networks in a research note on Friday, August 28th. Weiss Ratings downgraded shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, September 28th. Northland Securities raised their price objective on shares of Aviat Networks from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Zacks Research raised shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Craig Hallum started coverage on shares of Aviat Networks in a research report on Tuesday, June 30th. They issued a “buy” rating and a $36.00 target price for the company. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.71.

Aviat Networks Trading Up 2.7%

Shares of AVNW opened at $20.68 on Friday. Aviat Networks has a one year low of $13.92 and a one year high of $27.02. The stock has a 50-day moving average price of $20.44 and a 200 day moving average price of $20.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97. The company has a market capitalization of $265.94 million, a P/E ratio of 108.84 and a beta of 0.68.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.09. The company had revenue of $120.89 million for the quarter, compared to the consensus estimate of $110.12 million. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%. Sell-side analysts forecast that Aviat Networks will post 2.09 EPS for the current fiscal year.

Insider Transactions at Aviat Networks

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

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of AVNW. Tieton Capital Management LLC acquired a new stake in shares of Aviat Networks during the 2nd quarter worth approximately $15,017,000. First Wilshire Securities Management Inc. increased its position in Aviat Networks by 1.0% in the first quarter. First Wilshire Securities Management Inc. now owns 529,533 shares of the communications equipment provider’s stock worth $11,973,000 after buying an additional 5,302 shares during the period. Dimensional Fund Advisors LP increased its position in Aviat Networks by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 432,521 shares of the communications equipment provider’s stock worth $9,779,000 after buying an additional 25,374 shares during the period. Sei Investments Co. lifted its stake in Aviat Networks by 122.2% in the first quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider’s stock valued at $9,775,000 after buying an additional 237,761 shares during the last quarter. Finally, Aristides Capital LLC boosted its holdings in shares of Aviat Networks by 9.6% during the first quarter. Aristides Capital LLC now owns 114,691 shares of the communications equipment provider’s stock valued at $2,593,000 after acquiring an additional 10,016 shares during the period. 78.62% of the stock is currently owned by institutional investors and hedge funds.

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.