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 research report report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Roth Capital reissued a “buy” rating and issued a $38.00 price objective (up from $34.00) on shares of Aviat Networks in a report on Friday, August 28th. Rafferty Capital Markets started coverage on shares of Aviat Networks in a report on Tuesday, June 30th. They set a “buy” rating and a $36.00 price objective on the stock. Zacks Research upgraded shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Citigroup reiterated a “market outperform” rating on shares of Aviat Networks in a research note on Friday, August 28th. Finally, Craig Hallum assumed coverage on shares of Aviat Networks in a research report on Tuesday, June 30th. They issued a “buy” rating and a $36.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Aviat Networks presently has a consensus rating of “Moderate Buy” and an average price target of $32.71.

Aviat Networks Price Performance

Shares of NASDAQ:AVNW opened at $20.54 on Friday. The company has a market capitalization of $264.14 million, a P/E ratio of 108.11 and a beta of 0.68. The company’s 50-day moving average is $20.44 and its 200 day moving average is $20.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97. Aviat Networks has a fifty-two week low of $13.92 and a fifty-two week high of $27.02.

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 analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $120.89 million during the quarter, compared to the consensus estimate of $110.12 million. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. On average, equities research analysts forecast that Aviat Networks will post 2.09 earnings per share for the current year.

Insider Transactions at Aviat Networks

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

Institutional Trading of Aviat Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Potomac Capital Management Inc. bought a new position in Aviat Networks in the 4th quarter valued at $43,000. Fifth Third Bancorp bought a new position in shares of Aviat Networks in the first quarter worth $53,000. Ancora Advisors LLC bought a new position in shares of Aviat Networks in the second quarter worth $55,000. State of Wyoming purchased a new stake in shares of Aviat Networks in the first quarter worth $207,000. Finally, WINTON GROUP Ltd boosted its stake in Aviat Networks by 6.1% during the second quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider’s stock valued at $268,000 after buying an additional 692 shares during the period. Institutional investors own 78.62% of the company’s stock.

About Aviat Networks

Aviat Networks, Inc (NASDAQ: AVNW) provides wireless networking solutions for communications service providers, private networks, government agencies, utilities, transportation organizations, and other critical infrastructure operators. The company specializes in connecting locations where fiber is unavailable, impractical, or requires a complementary wireless link.

Its portfolio includes microwave and millimeter-wave wireless transport systems, packet-based networking equipment, routers, wireless access products, network management software, and related installation, support, and professional services.