Aviat Networks (NASDAQ:AVNW) Cut to Hold at Wall Street Zen

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

Several other equities research analysts also recently commented on the company. B. Riley Financial reiterated a “buy” rating and set a $36.00 target price (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Zacks Research upgraded shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Lake Street Capital reissued a “buy” rating and set a $34.00 target price on shares of Aviat Networks in a research report on Wednesday, November 5th. B. Riley Securities reaffirmed a “buy” rating and set a $36.00 price target (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Aviat Networks has an average rating of “Moderate Buy” and an average price target of $34.80.

Aviat Networks Stock Performance

Shares of AVNW stock opened at $26.17 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37. The company has a market cap of $337.59 million, a PE ratio of 23.37 and a beta of 0.96. The company’s fifty day simple moving average is $21.86 and its 200-day simple moving average is $22.41. Aviat Networks has a 52 week low of $15.80 and a 52 week high of $27.02.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. The firm had revenue of $111.47 million during the quarter, compared to the consensus estimate of $109.67 million. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%. As a group, equities research analysts anticipate that Aviat Networks will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other Aviat Networks news, SVP Gary Croke sold 6,914 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were 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 directly owned 43,868 shares of the company’s stock, valued at $1,149,341.60. This trade represents a 13.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds have recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of Aviat Networks by 157.8% during the second quarter. American Century Companies Inc. now owns 144,922 shares of the communications equipment provider’s stock worth $3,485,000 after purchasing an additional 88,713 shares during the period. White Pine Capital LLC acquired a new position in shares of Aviat Networks in the 2nd quarter valued at about $676,000. Crown Advisors Management Inc. bought a new stake in shares of Aviat Networks during the 2nd quarter valued at about $2,164,000. First Eagle Investment Management LLC raised its stake in Aviat Networks by 15.1% during the second quarter. First Eagle Investment Management LLC now owns 378,549 shares of the communications equipment provider’s stock worth $9,104,000 after acquiring an additional 49,642 shares during the period. Finally, First Wilshire Securities Management Inc. raised its stake in Aviat Networks by 22.2% during the second quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider’s stock worth $12,780,000 after acquiring an additional 96,367 shares during the period. 78.62% of the stock is currently 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.