Aviat Networks (NASDAQ:AVNW) Price Target Cut to $55.00 by Analysts at B. Riley

Aviat Networks (NASDAQ:AVNW) had its price target cut by B. Riley from $59.00 to $55.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

AVNW has been the subject of several other reports. JMP Securities reaffirmed a market outperform rating and set a $50.00 target price on shares of Aviat Networks in a report on Monday, February 5th. StockNews.com raised shares of Aviat Networks from a sell rating to a hold rating in a report on Thursday, April 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Aviat Networks presently has a consensus rating of Buy and an average price target of $53.75.

Aviat Networks Price Performance

Shares of AVNW opened at $29.91 on Thursday. The business’s 50-day moving average is $34.92 and its two-hundred day moving average is $32.40. The company has a market capitalization of $375.67 million, a P/E ratio of 26.47 and a beta of 1.78. Aviat Networks has a fifty-two week low of $21.15 and a fifty-two week high of $38.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.63 and a current ratio of 2.12.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The company had revenue of $111.61 million for the quarter, compared to analyst estimates of $113.56 million. Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. During the same period last year, the business earned $0.61 earnings per share. Research analysts predict that Aviat Networks will post 3.01 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Aviat Networks in the 3rd quarter valued at $149,000. LSV Asset Management lifted its holdings in Aviat Networks by 12.8% during the third quarter. LSV Asset Management now owns 367,691 shares of the communications equipment provider’s stock valued at $11,472,000 after purchasing an additional 41,850 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Aviat Networks in the third quarter valued at about $31,000. First Eagle Investment Management LLC increased its stake in shares of Aviat Networks by 9.3% during the third quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock worth $6,214,000 after purchasing an additional 16,875 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of Aviat Networks by 4.3% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 17,016 shares of the communications equipment provider’s stock worth $531,000 after purchasing an additional 709 shares during the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.