Aviat Networks (NASDAQ:AVNW) Stock Rating Upgraded by Craig Hallum

Aviat Networks (NASDAQ:AVNW) was upgraded by research analysts at Craig Hallum to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings downgraded Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Lake Street Capital set a $31.00 price target on shares of Aviat Networks and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Northland Securities upgraded shares of Aviat Networks from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $20.00 to $25.00 in a research note on Monday, June 15th. Wall Street Zen downgraded shares of Aviat Networks from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Finally, Citigroup upgraded shares of Aviat Networks to an “outperform” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.43.

Aviat Networks Stock Performance

NASDAQ AVNW opened at $22.46 on Tuesday. The stock has a market capitalization of $290.63 million, a price-to-earnings ratio of 32.55 and a beta of 0.70. The business’s 50 day moving average is $18.96 and its two-hundred day moving average is $21.63. Aviat Networks has a 12-month low of $13.92 and a 12-month high of $27.02. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings results on Monday, May 4th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%. The business had revenue of $100.00 million during the quarter, compared to analyst estimates of $106.39 million. Research analysts expect that Aviat Networks will post 1.14 EPS for the current year.

Institutional Investors Weigh In On Aviat Networks

A number of institutional investors and hedge funds have recently bought and sold shares of AVNW. Comerica Bank grew its holdings in 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 buying an additional 780 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Aviat Networks by 290.7% in the first quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider’s stock worth $783,000 after acquiring an additional 30,413 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Aviat Networks by 20.6% in the first quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider’s stock valued at $1,629,000 after acquiring an additional 14,498 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Aviat Networks by 6.9% in the first quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider’s stock valued at $500,000 after acquiring an additional 1,683 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Aviat Networks by 6.7% during the second quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock valued at $441,000 after acquiring an additional 1,148 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.