Aviat Networks (NASDAQ:AVNW) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Aviat Networks (NASDAQ:AVNW) from a buy rating to a hold rating in a report issued on Tuesday.

A number of other research analysts have also recently commented on AVNW. 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. Northland Securities cut their price target on Aviat Networks from $40.00 to $35.00 and set an outperform rating on the stock in a research note on Tuesday, October 8th. JMP Securities reaffirmed a market outperform rating and issued a $50.00 price objective on shares of Aviat Networks in a research note on Tuesday, October 8th. Finally, Lake Street Capital cut their target price on shares of Aviat Networks from $51.00 to $45.00 and set a buy rating on the stock in a research report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Aviat Networks has an average rating of Moderate Buy and a consensus price target of $43.00.

Aviat Networks Price Performance

AVNW stock opened at $22.72 on Tuesday. Aviat Networks has a 1 year low of $18.00 and a 1 year high of $38.85. 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 stock has a market cap of $285.48 million, a price-to-earnings ratio of 20.11 and a beta of 1.80. The company has a 50 day simple moving average of $24.44 and a 200 day simple moving average of $28.57.

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Aviat Networks by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock worth $21,166,000 after purchasing an additional 11,662 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Aviat Networks by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 425,538 shares of the communications equipment provider’s stock valued at $12,208,000 after buying an additional 7,968 shares during the period. Select Equity Group L.P. lifted its holdings in Aviat Networks by 8.7% in the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock valued at $10,907,000 after buying an additional 30,582 shares during the period. Hodges Capital Management Inc. boosted its position in Aviat Networks by 80.8% during the second quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after acquiring an additional 163,365 shares during the last quarter. Finally, Herald Investment Management Ltd grew its holdings in Aviat Networks by 3.3% during the 2nd quarter. Herald Investment Management Ltd now owns 155,000 shares of the communications equipment provider’s stock worth $4,435,000 after acquiring an additional 5,000 shares during the period. 78.62% of the stock is currently owned by institutional investors.

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.