Aviat Networks (NASDAQ:AVNW) Raised to Hold at Zacks Research

Aviat Networks (NASDAQ:AVNW) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.

Several other research analysts have also recently issued reports on AVNW. Citigroup restated a “market outperform” rating on shares of Aviat Networks in a report on Friday, August 28th. Weiss Ratings cut shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 30th. Wall Street Zen raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. B. Riley Financial restated a “buy” rating and issued a $33.00 price objective (up from $28.00) on shares of Aviat Networks in a research note on Friday, August 28th. Finally, Roth Capital reaffirmed a “buy” rating and set a $38.00 price objective (up from $34.00) on shares of Aviat Networks in a report on Friday, August 28th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.71.

Aviat Networks Stock Up 4.1%

Shares of NASDAQ AVNW traded up $0.69 during midday trading on Thursday, hitting $17.66. 245,587 shares of the company’s stock were exchanged, compared to its average volume of 113,785. The firm’s fifty day simple moving average is $19.85 and its 200-day simple moving average is $21.09. The company has a market cap of $227.11 million, a PE ratio of 92.95 and a beta of 0.77. Aviat Networks has a twelve month low of $13.92 and a twelve month high of $27.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.66.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The firm had revenue of $120.89 million during the quarter, compared to the consensus estimate of $110.12 million. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%. Research analysts predict that Aviat Networks will post 2.09 EPS for the current fiscal year.

Insider Activity at Aviat Networks

In other news, CEO Pete A. Smith sold 14,264 shares of Aviat Networks stock in a transaction on Monday, August 31st. The shares were sold at an average price of $19.69, for a total value of $280,858.16. Following the transaction, the chief executive officer directly owned 367,840 shares of the company’s stock, valued at $7,242,769.60. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Erin Boase sold 1,347 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $19.69, for a total transaction of $26,522.43. Following the completion of the sale, the vice president owned 28,275 shares of the company’s stock, valued at approximately $556,734.75. This trade represents a 4.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,240 shares of company stock valued at $319,766 over the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Aviat Networks

Large investors have recently bought and sold shares of the business. Tectonic Advisors LLC increased its stake in Aviat Networks by 14.3% in the third quarter. Tectonic Advisors LLC now owns 37,073 shares of the communications equipment provider’s stock valued at $743,000 after purchasing an additional 4,640 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Aviat Networks during the third quarter worth about $748,000. Farther Finance Advisors LLC boosted its stake in shares of Aviat Networks by 1,026.8% during the third quarter. Farther Finance Advisors LLC now owns 1,893 shares of the communications equipment provider’s stock worth $38,000 after buying an additional 1,725 shares during the period. WINTON GROUP Ltd grew its holdings in shares of Aviat Networks by 6.1% during the second quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider’s stock worth $268,000 after buying an additional 692 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Aviat Networks during the second quarter worth about $1,095,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

About Aviat Networks

Aviat Networks, Inc provides wireless networking solutions for communications service providers, government agencies and enterprises. The company specializes in mission-critical connectivity for applications where reliable, high-capacity communications are essential, including telecommunications, public safety, utilities, transportation and defense.

Its product portfolio includes microwave and millimeter-wave wireless transmission systems, routers, access and aggregation equipment, network management software and related cybersecurity solutions.