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

Key Points

• Wall Street Zen downgraded Aviat Networks (NASDAQ:AVNW) from a "buy" to a "hold" rating in a report issued Sunday.
• Analyst coverage is mixed — four Buy vs. two Hold — leaving a MarketBeat average rating of Moderate Buy and a consensus price target of $34.50.
• Aviat beat quarterly EPS expectations ($0.54 vs. $0.48) on $111.47M revenue; the stock trades near $23.36 with a market capitalization of about $301M.

Aviat Networks (NASDAQ:AVNW - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

AVNW has been the subject of a number of other research reports. Roth Mkm lowered their target price on Aviat Networks from $41.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, February 4th. Weiss Ratings reissued a "hold (c-)" rating on shares of Aviat Networks in a research note on Monday, December 29th. Citizens Jmp reissued a "market outperform" rating and issued a $30.00 price target on shares of Aviat Networks in a research note on Wednesday, February 4th. Zacks Research raised Aviat Networks from a "strong sell" rating to a "hold" rating in a research note on Friday, January 23rd. Finally, B. Riley Financial reissued a "buy" rating and issued a $36.00 price target (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Aviat Networks currently has an average rating of "Moderate Buy" and a consensus target price of $34.50.

Aviat Networks Stock Up 3.2%

NASDAQ:AVNW opened at $23.36 on Friday. Aviat Networks has a twelve month low of $17.28 and a twelve month high of $27.02. The stock's 50 day moving average price is $23.78 and its two-hundred day moving average price is $22.91. The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $301.34 million, a price-to-earnings ratio of 20.86 and a beta of 0.82.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.06. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%.The business had revenue of $111.47 million during the quarter, compared to analysts' expectations of $109.67 million. Equities research analysts expect that Aviat Networks will post 1.95 earnings per share for the current fiscal year.

Insider Activity at Aviat Networks

In related news, CEO Pete A. Smith sold 17,086 shares of the firm's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $26.33, for a total transaction of $449,874.38. Following the completion of the sale, the chief executive officer owned 358,747 shares of the company's stock, valued at $9,445,808.51. This trade represents a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Gary Croke sold 6,914 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $26.20, for a total value of $181,146.80. Following the sale, the senior vice president directly owned 43,868 shares of the company's stock, valued at $1,149,341.60. This represents a 13.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Aviat Networks

Several large investors have recently added to or reduced their stakes in AVNW. Western Standard LLC grew its stake in 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 purchasing an additional 226,332 shares during the period. Weber Capital Management LLC ADV bought a new position in Aviat Networks in the fourth quarter worth approximately $3,099,000. Marshall Wace LLP boosted its holdings in Aviat Networks by 140.2% in the fourth quarter. Marshall Wace LLP now owns 226,580 shares of the communications equipment provider's stock worth $4,844,000 after acquiring an additional 132,262 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Aviat Networks by 67.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 285,868 shares of the communications equipment provider's stock worth $6,555,000 after acquiring an additional 115,298 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC boosted its holdings in Aviat Networks by 34.5% in the third quarter. Pacific Ridge Capital Partners LLC now owns 311,254 shares of the communications equipment provider's stock worth $7,137,000 after acquiring an additional 79,774 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company's stock.

Aviat Networks Company Profile

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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