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

Aviat Networks, Inc. (NASDAQ:AVNW) has been assigned an average rating of “Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $38.60.

Several brokerages recently issued reports on AVNW. Lake Street Capital reduced their target price on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. B. Riley reduced their price objective on Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. StockNews.com downgraded Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Northland Securities reduced their price target 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. Finally, JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a research note on Tuesday, October 8th.

Aviat Networks Stock Performance

NASDAQ:AVNW opened at $16.88 on Thursday. The stock has a market cap of $214.21 million, a P/E ratio of -54.45 and a beta of 1.72. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $17.48 and its two-hundred day moving average price is $23.32. Aviat Networks has a twelve month low of $12.95 and a twelve month high of $38.85.

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

Insider Activity

In other news, CFO Michael Connaway bought 3,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the acquisition, the chief financial officer now owns 57,893 shares in the company, valued at approximately $818,028.09. This trade represents a 6.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Pete A. Smith purchased 3,000 shares of Aviat Networks stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the acquisition, the chief executive officer now owns 298,539 shares in the company, valued at $4,218,356.07. This trade represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 7,400 shares of company stock valued at $106,110. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Aviat Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVNW. Franklin Resources Inc. lifted its position in shares of Aviat Networks by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 170,652 shares of the communications equipment provider’s stock worth $3,853,000 after purchasing an additional 22,665 shares during the period. Barclays PLC lifted its holdings in Aviat Networks by 298.0% in the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock worth $344,000 after buying an additional 11,926 shares during the period. Hodges Capital Management Inc. grew its holdings in shares of Aviat Networks by 27.3% during the 3rd quarter. Hodges Capital Management Inc. now owns 465,483 shares of the communications equipment provider’s stock worth $10,068,000 after acquiring an additional 99,948 shares during the period. Jane Street Group LLC raised its position in shares of Aviat Networks by 59.1% in the 3rd quarter. Jane Street Group LLC now owns 24,737 shares of the communications equipment provider’s stock worth $535,000 after acquiring an additional 9,186 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Aviat Networks by 1.6% during the third quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock valued at $5,141,000 after purchasing an additional 3,855 shares in the last quarter. 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.