Aviat Networks (NASDAQ:AVNW) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Aviat Networks from “hold” to “strong sell,” though analyst sentiment remains mixed. Eight analysts rate the stock a Buy and two rate it a Sell, producing a consensus “Moderate Buy” rating and a $32.71 price target.
• Aviat shares opened at $20.42 and were down 2%, with a market capitalization of approximately $262.6 million. The company recently exceeded quarterly expectations, reporting $0.64 EPS versus the $0.55 estimate and revenue of $120.89 million versus $110.12 million expected.
• Company insiders sold 16,240 shares worth about $319,766 over the past 90 days, while hedge funds and institutional investors own 78.62% of the stock.

Aviat Networks (NASDAQ:AVNW - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Other analysts have also issued research reports about the stock. Wall Street Zen raised shares of Aviat Networks from a "hold" rating to a "buy" rating in a report on Saturday, October 3rd. Northland Securities increased their price target on Aviat Networks from $25.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, July 2nd. Weiss Ratings cut Aviat Networks from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, September 28th. Rafferty Capital Markets started coverage on Aviat Networks in a report on Tuesday, June 30th. They set a "buy" rating and a $36.00 target price on the stock. Finally, B. Riley Financial reiterated a "buy" rating and set a $33.00 price objective (up from $28.00) on shares of Aviat Networks in a research report on Friday, August 28th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.71.

Aviat Networks Trading Down 2.0%

AVNW stock opened at $20.42 on Wednesday. The business has a fifty day simple moving average of $20.47 and a 200-day simple moving average of $20.26. The company has a market cap of $262.60 million, a price-to-earnings ratio of 107.47 and a beta of 0.68. Aviat Networks has a 52 week low of $13.92 and a 52 week high of $27.02. The company has a quick ratio of 1.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.33.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last announced its earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.09. The company had revenue of $120.89 million for the quarter, compared to analyst estimates of $110.12 million. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%. On average, equities research analysts expect that Aviat Networks will post 2.09 EPS for the current year.

Insider Activity at Aviat Networks

In other Aviat Networks news, VP Erin Boase sold 1,347 shares of the company'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 transaction, the vice president owned 28,275 shares in the company, valued at approximately $556,734.75. This represents a 4.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Pete A. 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 transaction of $280,858.16. Following the completion of the sale, the chief executive officer owned 367,840 shares of the company's stock, valued at approximately $7,242,769.60. The trade was a 3.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,240 shares of company stock valued at $319,766. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aviat Networks

Several institutional investors and hedge funds have recently modified their holdings of AVNW. WINTON GROUP Ltd raised its stake in shares of Aviat Networks by 6.1% during the 2nd quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider's stock worth $268,000 after purchasing an additional 692 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Aviat Networks by 1,026.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,893 shares of the communications equipment provider's stock valued at $38,000 after buying an additional 1,725 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Aviat Networks in the 1st quarter valued at approximately $53,000. Ancora Advisors LLC acquired a new position in Aviat Networks in the second quarter worth approximately $55,000. Finally, Quantinno Capital Management LP increased its holdings in Aviat Networks by 27.9% in the first quarter. Quantinno Capital Management LP now owns 20,038 shares of the communications equipment provider's stock worth $453,000 after buying an additional 4,367 shares during the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Aviat Networks Company Profile

Aviat Networks, Inc NASDAQ: AVNW provides wireless networking solutions for communications service providers, private networks, government agencies, utilities, transportation organizations, and other critical infrastructure operators. The company specializes in connecting locations where fiber is unavailable, impractical, or requires a complementary wireless link.

Its portfolio includes microwave and millimeter-wave wireless transport systems, packet-based networking equipment, routers, wireless access products, network management software, and related installation, support, and professional services.

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