Aviat Networks, Inc. (NASDAQ:AVNW) Given Consensus Rating of “Hold” by Brokerages

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.00.

Several equities analysts have 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 research note on Wednesday, February 4th. Wall Street Zen cut Aviat Networks from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Lake Street Capital set a $31.00 target price on Aviat Networks and gave the company a “buy” rating in a research note on Tuesday, May 5th. Zacks Research cut Aviat Networks from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Finally, Roth Mkm reduced their target price on Aviat Networks from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th.

Hedge Funds Weigh In On Aviat Networks

Several institutional investors and hedge funds have recently made changes to their positions in AVNW. Quarry LP purchased a new position in shares of Aviat Networks during the 3rd quarter valued at approximately $27,000. Raymond James Financial Inc. purchased a new position in shares of Aviat Networks during the 2nd quarter valued at approximately $28,000. Potomac Capital Management Inc. purchased a new position in shares of Aviat Networks during the 4th quarter valued at approximately $43,000. Comerica Bank lifted its stake in 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 last quarter. Finally, BNP Paribas Financial Markets lifted 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 purchasing an additional 1,120 shares during the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Aviat Networks Stock Down 2.3%

NASDAQ AVNW opened at $16.00 on Friday. The stock has a market cap of $207.04 million, a PE ratio of 23.19 and a beta of 0.82. Aviat Networks has a fifty-two week low of $13.92 and a fifty-two week high of $27.02. The business has a 50 day moving average price of $21.90 and a two-hundred day moving average price of $22.43. The company has a quick ratio of 1.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.36.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings results on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The company had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $106.39 million. Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%. As a group, sell-side analysts predict that Aviat Networks will post 1.19 EPS for the current fiscal year.

Aviat Networks Company Profile

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.