Aviat Networks’ (AVNW) Buy Rating Reiterated at B. Riley Securities

B. Riley Securities restated their buy rating on shares of Aviat Networks (NASDAQ:AVNW) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $36.00 price target on the communications equipment provider’s stock, up from their prior price target of $35.00.

A number of other research analysts have also commented on the company. Citizens Jmp reissued a “market outperform” rating and set a $30.00 price objective on shares of Aviat Networks in a report on Wednesday. Lake Street Capital reiterated a “buy” rating and set a $34.00 price target on shares of Aviat Networks in a report on Wednesday, November 5th. B. Riley Financial reissued a “buy” rating and issued a $36.00 price target (up previously from $35.00) on shares of Aviat Networks in a research report on Wednesday. Zacks Research raised shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Roth Mkm dropped their target price on shares of Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.80.

Aviat Networks Stock Up 2.2%

Aviat Networks stock opened at $26.36 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.37. Aviat Networks has a 1-year low of $15.80 and a 1-year high of $27.02. The firm’s fifty day simple moving average is $21.76 and its 200-day simple moving average is $22.42. The company has a market capitalization of $340.04 million, a P/E ratio of 23.54 and a beta of 0.96.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%. The firm had revenue of $111.47 million for the quarter, compared to the consensus estimate of $109.67 million. Sell-side analysts forecast that Aviat Networks will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Aviat Networks

In other Aviat Networks news, Director Bruce M. Taten sold 3,268 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total value of $76,438.52. Following the sale, the director directly owned 20,391 shares in the company, valued at $476,945.49. This trade represents a 13.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Pete A. Smith sold 5,350 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total transaction of $125,136.50. Following the transaction, the chief executive officer owned 349,447 shares in the company, valued at approximately $8,173,565.33. The trade was a 1.51% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

Several large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in Aviat Networks by 157.8% in the second quarter. American Century Companies Inc. now owns 144,922 shares of the communications equipment provider’s stock worth $3,485,000 after purchasing an additional 88,713 shares during the period. White Pine Capital LLC acquired a new position in shares of Aviat Networks in the 2nd quarter valued at $676,000. Crown Advisors Management Inc. bought a new position in shares of Aviat Networks during the 2nd quarter worth about $2,164,000. First Eagle Investment Management LLC boosted its position in shares of Aviat Networks by 15.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 378,549 shares of the communications equipment provider’s stock valued at $9,104,000 after acquiring an additional 49,642 shares in the last quarter. Finally, Tectonic Advisors LLC increased its stake in Aviat Networks by 2.7% in the second quarter. Tectonic Advisors LLC now owns 54,610 shares of the communications equipment provider’s stock valued at $1,313,000 after acquiring an additional 1,440 shares during the period. Institutional investors and hedge funds own 78.62% of the company’s stock.

About Aviat Networks

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.