Aviat Networks (NASDAQ:AVNW) Stock Dropped to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Aviat Networks from “buy” to “hold.” Analyst views remain mixed, though MarketBeat’s overall rating is “Moderate Buy,” with an average price target of $32.57.
• Aviat reported quarterly EPS of $0.12, missing the $0.30 consensus estimate; revenue of $101.97 million also fell short of the $103.55 million forecast.
• The stock opened at $17.35, versus a 52-week range of $13.92 to $27.02.

Aviat Networks (NASDAQ:AVNW - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms have also recently issued reports on AVNW. Weiss Ratings cut Aviat Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 30th. Roth Capital reaffirmed a "buy" rating and issued a $38.00 price target (up from $34.00) on shares of Aviat Networks in a research note on Friday, August 28th. B. Riley Financial reaffirmed a "buy" rating and issued a $32.00 price target (down from $33.00) on shares of Aviat Networks in a research note on Wednesday. Citigroup reiterated a "market outperform" rating on shares of Aviat Networks in a report on Friday, August 28th. Finally, Zacks Research raised shares of Aviat Networks from a "strong sell" rating to a "hold" rating in a research report on Thursday, November 5th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Aviat Networks presently has an average rating of "Moderate Buy" and an average price target of $32.57.

Aviat Networks Stock Up 2.7%

NASDAQ AVNW opened at $17.35 on Friday. Aviat Networks has a 1 year low of $13.92 and a 1 year high of $27.02. The stock has a market capitalization of $223.99 million, a PE ratio of -433.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.07 and a quick ratio of 1.66. The business's 50-day moving average is $19.62 and its 200 day moving average is $20.98.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The communications equipment provider reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.18). The business had revenue of $101.97 million for the quarter, compared to the consensus estimate of $103.55 million. Aviat Networks had a negative net margin of 0.10% and a positive return on equity of 4.12%. Sell-side analysts forecast that Aviat Networks will post 2.09 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Pete Smith sold 14,264 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $280,858.16. Following the completion of the transaction, the chief executive officer owned 367,840 shares of the company's stock, valued at approximately $7,242,769.60. This represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Erin Boase sold 1,347 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $19.69, for a total value of $26,522.43. Following the completion of the transaction, the vice president owned 28,275 shares of the company's stock, valued at approximately $556,734.75. The trade was a 4.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,240 shares of company stock worth $319,766 in the last quarter. Company insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Aviat Networks

A number of institutional investors have recently added to or reduced their stakes in the company. Tieton Capital Management LLC purchased a new position in Aviat Networks during the second quarter valued at $15,017,000. First Wilshire Securities Management Inc. grew its position in shares of Aviat Networks by 1.0% in the 1st quarter. First Wilshire Securities Management Inc. now owns 529,533 shares of the communications equipment provider's stock worth $11,973,000 after buying an additional 5,302 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Aviat Networks by 6.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 432,521 shares of the communications equipment provider's stock worth $9,779,000 after buying an additional 25,374 shares during the period. Sei Investments Co. increased its stake in shares of Aviat Networks by 122.2% in the 1st quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider's stock worth $9,775,000 after acquiring an additional 237,761 shares in the last quarter. Finally, Aristides Capital LLC increased its stake in shares of Aviat Networks by 9.6% in the 1st quarter. Aristides Capital LLC now owns 114,691 shares of the communications equipment provider's stock worth $2,593,000 after acquiring an additional 10,016 shares in the last quarter. Institutional investors own 78.62% of the company's stock.

Aviat Networks Company Profile

Aviat Networks, Inc. provides wireless transport solutions used to build and operate communications networks. Its offerings include microwave radio systems and related equipment that carry voice and data traffic, particularly where fiber-optic connections are unavailable, impractical or need to be supplemented. The company also offers IP networking products, network management software and services such as network planning, installation, maintenance and technical support. Its solutions serve telecommunications providers as well as customers in sectors including utilities, government and public safety.

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