Aviat Networks, Inc. (NASDAQ:AVNW) Given Average Recommendation of “Buy” by Brokerages

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) have earned an average rating of “Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $38.60.

A number of analysts have weighed in on the stock. Northland Securities cut their target price on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. B. Riley dropped their price target on Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 13th. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research report on Tuesday, October 8th. StockNews.com cut Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Roth Mkm cut their price target on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th.

Aviat Networks Trading Down 1.8 %

Shares of AVNW opened at $17.08 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72. Aviat Networks has a 52-week low of $12.95 and a 52-week high of $38.85. The firm has a market cap of $216.75 million, a price-to-earnings ratio of -55.10 and a beta of 1.72. The business’s fifty day moving average is $18.80 and its 200-day moving average is $24.73.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $116.66 million for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. Equities analysts anticipate that Aviat Networks will post 1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Pete A. Smith bought 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was acquired at an average price of $14.13 per share, with a total value of $42,390.00. Following the transaction, the chief executive officer now owns 298,539 shares of the company’s stock, valued at $4,218,356.07. This trade represents a 1.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Connaway purchased 3,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $14.13 per share, for a total transaction of $49,455.00. Following the transaction, the chief financial officer now directly owns 57,893 shares in the company, valued at approximately $818,028.09. This trade represents a 6.43 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 7,400 shares of company stock valued at $106,110. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of Aviat Networks during the 2nd quarter valued at about $29,000. NBC Securities Inc. acquired a new position in Aviat Networks in the third quarter valued at approximately $62,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Aviat Networks during the 3rd quarter worth approximately $263,000. BNP Paribas Financial Markets grew its position in shares of Aviat Networks by 635.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider’s stock worth $308,000 after buying an additional 12,306 shares during the period. Finally, Barclays PLC increased its stake in shares of Aviat Networks by 298.0% in the 3rd quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock valued at $344,000 after acquiring an additional 11,926 shares in the last quarter. 78.62% of the stock is owned by institutional investors.

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.