Aviat Networks (NASDAQ:AVNW) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Aviat Networks from “hold” to “buy,” contributing to a consensus “Moderate Buy” rating. Analysts’ average price target is $32.71, with individual targets as high as $38.
• Aviat Networks reported quarterly EPS of $0.64, beating the $0.55 consensus estimate, while revenue of $120.89 million exceeded expectations of $110.12 million.
• The stock opened at $20.68 and was trading up 2.7%; institutional investors own 78.62% of shares, while company insiders sold $319,766 worth of stock over the past 90 days.

Aviat Networks (NASDAQ:AVNW - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

AVNW has been the topic of a number of other reports. Rafferty Capital Markets initiated coverage on Aviat Networks in a research note on Tuesday, June 30th. They set a "buy" rating and a $36.00 price target on the stock. Northland Securities lifted their price objective on Aviat Networks from $25.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, July 2nd. Citigroup reiterated a "market outperform" rating on shares of Aviat Networks in a report on Friday, August 28th. Zacks Research raised Aviat Networks from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Roth Capital restated a "buy" rating and set a $38.00 target price (up from $34.00) on shares of Aviat Networks in a report on Friday, August 28th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Aviat Networks has a consensus rating of "Moderate Buy" and an average price target of $32.71.

Aviat Networks Trading Up 2.7%

NASDAQ AVNW opened at $20.68 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.66. The stock has a market capitalization of $265.94 million, a P/E ratio of 108.84 and a beta of 0.68. The firm's 50-day moving average is $20.44 and its two-hundred day moving average is $20.42. Aviat Networks has a 12 month low of $13.92 and a 12 month high of $27.02.

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

Insiders Place Their Bets

In other news, VP Erin Boase sold 1,347 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $26,522.43. Following the sale, the vice president directly owned 28,275 shares in the company, valued at approximately $556,734.75. This trade represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Pete Smith sold 14,264 shares of Aviat Networks stock in a transaction on Monday, August 31st. The shares were 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 trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,240 shares of company stock worth $319,766 in the last ninety days. Corporate insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Aviat Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd increased its stake in Aviat Networks by 6.1% in the 2nd quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider's stock valued at $268,000 after buying an additional 692 shares during the period. Potomac Capital Management Inc. acquired a new stake in shares of Aviat Networks in the 4th quarter worth $43,000. Fifth Third Bancorp purchased a new stake in shares of Aviat Networks in the first quarter valued at about $53,000. Ancora Advisors LLC purchased a new stake in shares of Aviat Networks in the second quarter valued at about $55,000. Finally, Quantinno Capital Management LP increased its stake in shares of Aviat Networks by 27.9% during the first quarter. Quantinno Capital Management LP now owns 20,038 shares of the communications equipment provider's stock worth $453,000 after acquiring an additional 4,367 shares during the period. Institutional investors and hedge funds own 78.62% of the company's stock.

Aviat Networks Company Profile

Aviat Networks, Inc is a provider of wireless networking solutions for communications and critical infrastructure markets. The company designs and supplies microwave and millimeter-wave radio systems, routers, network management software, and related hardware used to transport voice, data, and video traffic.

Its products support a range of applications, including mobile network backhaul and access, broadband connectivity, private enterprise networks, public safety communications, utilities, transportation systems, government networks, and other industrial operations.

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