Northland Securities Reiterates “Outperform” Rating for Aviat Networks (NASDAQ:AVNW)

Aviat Networks (NASDAQ:AVNW)‘s stock had its “outperform” rating reaffirmed by investment analysts at Northland Securities in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $40.00 target price on the communications equipment provider’s stock, down from their prior target price of $50.00. Northland Securities’ target price suggests a potential upside of 87.44% from the stock’s current price.

AVNW has been the subject of a number of other reports. Lake Street Capital reissued a “buy” rating and set a $51.00 price objective on shares of Aviat Networks in a research report on Friday, July 5th. StockNews.com upgraded Aviat Networks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $45.75.

Aviat Networks Stock Performance

AVNW opened at $21.34 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.79. The firm has a fifty day moving average price of $27.57 and a 200 day moving average price of $30.80. Aviat Networks has a 1 year low of $18.00 and a 1 year high of $38.85. The stock has a market cap of $268.14 million, a P/E ratio of 18.88 and a beta of 1.81.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AVNW. Anchor Capital Advisors LLC acquired a new stake in Aviat Networks in the 1st quarter valued at $1,330,000. Intrinsic Edge Capital Management LLC boosted its stake in Aviat Networks by 80.9% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 67,100 shares of the communications equipment provider’s stock valued at $2,191,000 after acquiring an additional 30,000 shares during the period. Millrace Asset Group Inc. bought a new position in shares of Aviat Networks during the fourth quarter worth about $1,617,000. Panagora Asset Management Inc. bought a new position in Aviat Networks in the 4th quarter worth approximately $590,000. Finally, Vanguard Group Inc. increased its position in Aviat Networks by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock valued at $21,166,000 after acquiring an additional 11,662 shares during the period. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.