Aviat Networks, Inc. (NASDAQ:AVNW) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Aviat Networks has a “Moderate Buy” consensus rating from 10 analysts, with eight buys, one hold and one sell. The average 12-month price target is $33.14, well above the reported share price of $19.53.
• The company’s latest quarterly results fell short of expectations, reporting $0.06 EPS versus a $0.42 consensus estimate and revenue of $100 million versus estimates of $106.39 million.
• Institutional investors and hedge funds own 78.62% of Aviat Networks, with several firms recently increasing their positions or initiating new stakes.

Aviat Networks, Inc. (NASDAQ:AVNW - Get Free Report) has received an average rating of "Moderate Buy" from the ten ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.1429.

AVNW has been the subject of a number of recent analyst reports. Northland Securities raised their price objective on Aviat Networks from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, July 2nd. Citizens Jmp decreased their target price on Aviat Networks from $30.00 to $25.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 6th. Wall Street Zen downgraded Aviat Networks from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Lake Street Capital set a $31.00 price objective on shares of Aviat Networks and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, Weiss Ratings cut shares of Aviat Networks from a "hold (c)" rating to a "sell (d)" rating in a research note on Wednesday, May 6th.

Aviat Networks Stock Down 4.2%

Aviat Networks stock opened at $19.53 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.99 and a quick ratio of 1.67. The company's 50-day moving average is $19.87 and its 200-day moving average is $21.55. The firm has a market capitalization of $252.72 million, a PE ratio of 28.30 and a beta of 0.70. Aviat Networks has a fifty-two week low of $13.92 and a fifty-two week high of $27.02.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last issued its earnings results on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.36). The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $106.39 million. Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%. Sell-side analysts anticipate that Aviat Networks will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Aviat Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. Weber Capital Management LLC ADV acquired a new stake in Aviat Networks during the 4th quarter worth approximately $3,099,000. Western Standard LLC lifted its holdings in shares of Aviat Networks by 84.5% during the fourth quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider's stock worth $10,567,000 after buying an additional 226,332 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of Aviat Networks during the first quarter worth $610,000. Pacific Ridge Capital Partners LLC boosted its position in shares of Aviat Networks by 19.3% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 371,258 shares of the communications equipment provider's stock valued at $7,937,000 after acquiring an additional 60,004 shares during the period. Finally, Royce & Associates LP increased its position in Aviat Networks by 8.5% during the fourth quarter. Royce & Associates LP now owns 648,235 shares of the communications equipment provider's stock worth $13,859,000 after acquiring an additional 51,000 shares during the period. Institutional investors and hedge funds own 78.62% of the company's stock.

About Aviat Networks

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company's offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat's core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.

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