Aviat Networks (NASDAQ:AVNW) Receives Buy Rating from Lake Street Capital

Aviat Networks (NASDAQ:AVNW)‘s stock had its “buy” rating reaffirmed by equities research analysts at Lake Street Capital in a research note issued on Friday, Benzinga reports. They currently have a $51.00 price target on the communications equipment provider’s stock. Lake Street Capital’s target price would suggest a potential upside of 81.88% from the company’s previous close.

Other research analysts have also issued research reports about the company. StockNews.com raised Aviat Networks from a “hold” rating to a “buy” rating in a report on Friday, June 14th. B. Riley dropped their price objective on Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.75.

Aviat Networks Price Performance

Aviat Networks stock opened at $28.04 on Friday. The business has a 50 day simple moving average of $30.35 and a 200-day simple moving average of $32.48. Aviat Networks has a 12 month low of $25.08 and a 12 month high of $38.85. The stock has a market capitalization of $352.18 million, a PE ratio of 24.81 and a beta of 1.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.79.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. The business had revenue of $111.61 million for the quarter, compared to analyst estimates of $113.56 million. During the same period in the prior year, the company earned $0.61 EPS. Equities analysts predict that Aviat Networks will post 2.84 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Pete A. Smith acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $30.70 per share, for a total transaction of $30,700.00. Following the transaction, the chief executive officer now owns 242,199 shares in the company, valued at approximately $7,435,509.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Aviat Networks

A number of hedge funds have recently added to or reduced their stakes in AVNW. Tower Research Capital LLC TRC boosted its stake in Aviat Networks by 582.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock worth $77,000 after buying an additional 2,005 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Aviat Networks by 30.4% in the 4th quarter. SG Americas Securities LLC now owns 6,218 shares of the communications equipment provider’s stock valued at $203,000 after purchasing an additional 1,450 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Aviat Networks by 84.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock valued at $210,000 after purchasing an additional 2,513 shares in the last quarter. Covestor Ltd lifted its stake in shares of Aviat Networks by 309.8% in the 1st quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock valued at $228,000 after purchasing an additional 4,486 shares in the last quarter. Finally, Bailard Inc. acquired a new position in shares of Aviat Networks in the 4th quarter valued at about $255,000. 78.62% of the stock is owned by institutional investors and hedge funds.

About Aviat Networks

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.