Aviat Networks (NASDAQ:AVNW) Upgraded at Wall Street Zen

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

A number of other brokerages also recently issued reports on AVNW. Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Roth Mkm cut their price objective on Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Citizens Jmp reissued a “market outperform” rating and set a $30.00 target price on shares of Aviat Networks in a research note on Wednesday, February 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Aviat Networks in a report on Monday, December 29th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $36.00 price target (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Aviat Networks has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Aviat Networks Trading Up 1.6%

Shares of AVNW opened at $25.02 on Friday. The stock has a market capitalization of $322.76 million, a P/E ratio of 22.34 and a beta of 0.83. Aviat Networks has a twelve month low of $15.80 and a twelve month high of $27.02. The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $23.83 and a two-hundred day simple moving average of $22.95.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The firm had revenue of $111.47 million for 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%. On average, research analysts anticipate that Aviat Networks will post 0.5 EPS for the current year.

Insider Buying and Selling

In other news, 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 value 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 trade represents a 13.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Pete A. Smith sold 17,086 shares of Aviat Networks stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $26.33, for a total value of $449,874.38. Following the sale, the chief executive officer owned 358,747 shares in the company, valued at $9,445,808.51. This represents a 4.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aviat Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Aviat Networks in the 3rd quarter worth about $27,000. Raymond James Financial Inc. bought a new position in shares of Aviat Networks in the 2nd quarter worth about $28,000. Potomac Capital Management Inc. purchased a new position in Aviat Networks during the 4th quarter valued at about $43,000. Comerica Bank lifted its position in Aviat Networks by 40.2% during the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 780 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in 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 acquiring an additional 1,120 shares in the last quarter. Hedge funds and other 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.