Aviat Networks (NASDAQ:AVNW) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Aviat Networks (NASDAQ:AVNW) from a hold rating to a buy rating in a research report released on Friday morning.

Several other research analysts have also recently issued reports on AVNW. JMP Securities reaffirmed a market outperform rating and set a $50.00 price objective on shares of Aviat Networks in a research report on Monday, February 5th. B. Riley decreased their target price on Aviat Networks from $59.00 to $55.00 and set a buy rating for the company in a research note on Thursday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $53.75.

Aviat Networks Stock Up 5.3 %

Shares of Aviat Networks stock opened at $29.91 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. Aviat Networks has a 52-week low of $21.15 and a 52-week high of $38.85. The company has a market capitalization of $375.67 million, a P/E ratio of 26.47 and a beta of 1.78. The company has a 50 day moving average of $34.92 and a 200 day moving average of $32.40.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, research analysts forecast that Aviat Networks will post 3.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Aviat Networks

Several large investors have recently bought and sold shares of AVNW. Quantbot Technologies LP purchased a new stake in shares of Aviat Networks in the 3rd quarter valued at about $31,000. Tower Research Capital LLC TRC increased its position in Aviat Networks by 582.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock worth $77,000 after buying an additional 2,005 shares during the period. SG Americas Securities LLC purchased a new stake in Aviat Networks in the third quarter valued at approximately $149,000. BNP Paribas Financial Markets boosted its holdings in shares of Aviat Networks by 84.8% in the first quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock valued at $210,000 after acquiring an additional 2,513 shares during the period. Finally, Bailard Inc. purchased a new position in shares of Aviat Networks during the fourth quarter worth approximately $255,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

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.