Aviat Networks (NASDAQ:AVNW) Rating Lowered to “Hold” at Wall Street Zen

Aviat Networks (NASDAQ:AVNW) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms also recently commented on AVNW. Citizens Jmp reissued a “market outperform” rating and set a $30.00 price target on shares of Aviat Networks in a research note on Wednesday, February 4th. B. Riley Financial reaffirmed a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Aviat Networks in a report on Monday, December 29th. Roth Mkm decreased their target price on shares of Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Finally, Zacks Research raised shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Aviat Networks currently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Aviat Networks Price Performance

AVNW opened at $22.93 on Friday. The stock has a 50-day moving average price of $24.38 and a 200-day moving average price of $23.10. Aviat Networks has a 12-month low of $15.80 and a 12-month high of $27.02. The company has a current ratio of 1.85, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $295.80 million, a P/E ratio of 20.47 and a beta of 0.84.

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

Insider Activity

In related news, SVP Gary Croke sold 6,914 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $26.20, for a total transaction of $181,146.80. Following the transaction, the senior vice president owned 43,868 shares in the company, valued at $1,149,341.60. The trade was a 13.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Pete A. Smith sold 17,086 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $26.33, for a total value of $449,874.38. Following the transaction, the chief executive officer directly owned 358,747 shares of the company’s stock, valued at $9,445,808.51. The trade was a 4.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is owned by company insiders.

Institutional Trading of Aviat Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Aviat Networks in the third quarter valued at $27,000. Raymond James Financial Inc. bought a new position in Aviat Networks in the 2nd quarter worth $28,000. Potomac Capital Management Inc. purchased a new stake in shares of Aviat Networks in the 4th quarter worth about $43,000. Comerica Bank boosted its stake in shares of Aviat Networks by 40.2% during the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 780 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Aviat Networks by 96.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 1,120 shares in the last quarter. Hedge funds and other institutional investors 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.