Aviat Networks (NASDAQ:AVNW) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Aviat Networks (NASDAQ:AVNW) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Lake Street Capital restated a “buy” rating and issued a $34.00 target price on shares of Aviat Networks in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. B. Riley reaffirmed a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of Aviat Networks in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Aviat Networks in a research report on Monday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.00.

Aviat Networks Stock Performance

NASDAQ:AVNW opened at $20.74 on Monday. The company’s 50-day moving average is $22.46 and its two-hundred day moving average is $22.76. Aviat Networks has a 1-year low of $15.80 and a 1-year high of $26.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.51. The firm has a market capitalization of $266.30 million, a price-to-earnings ratio of 20.14 and a beta of 0.92.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Thursday, December 7th. The communications equipment provider reported $0.75 earnings per share (EPS) for the quarter. Aviat Networks had a net margin of 2.95% and a return on equity of 12.04%. The business had revenue of $81.25 million during the quarter. Analysts forecast that Aviat Networks will post 0.5 EPS for the current year.

Insider Transactions at Aviat Networks

In other news, Director Bruce M. Taten sold 3,268 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total transaction of $76,438.52. Following the sale, the director owned 20,391 shares of the company’s stock, valued at approximately $476,945.49. This represents a 13.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Pete A. Smith sold 5,350 shares of Aviat Networks stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total transaction of $125,136.50. Following the completion of the transaction, the chief executive officer owned 349,447 shares of the company’s stock, valued at $8,173,565.33. This trade represents a 1.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of Aviat Networks

A number of large investors have recently modified their holdings of AVNW. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Aviat Networks during the first quarter worth approximately $3,783,000. Nuveen LLC acquired a new position in Aviat Networks during the 1st quarter worth approximately $3,366,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Aviat Networks by 67.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 285,868 shares of the communications equipment provider’s stock worth $6,555,000 after acquiring an additional 115,298 shares in the last quarter. First Wilshire Securities Management Inc. increased its position in shares of Aviat Networks by 22.2% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider’s stock valued at $12,780,000 after purchasing an additional 96,367 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in shares of Aviat Networks by 29.4% in the 2nd quarter. Kennedy Capital Management LLC now owns 421,663 shares of the communications equipment provider’s stock valued at $10,141,000 after purchasing an additional 95,884 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.