Citizens Jmp Cuts Aviat Networks (NASDAQ:AVNW) Price Target to $25.00

Key Points

• Citizens Jmp cut its price target for Aviat Networks from $30 to $25 but kept a "market outperform" rating, with the $25 target implying roughly a 53.5% upside from the current share price.
• Aviat missed the quarter, reporting $0.06 EPS versus $0.42 expected and $100M in revenue versus $106.4M consensus, highlighting weak near-term results and a thin 2.08% net margin.
• Insiders including the CEO and SVP sold stock earlier this year (insiders now own 5.30%), while institutional investors and hedge funds hold about 78.6% of the company.

Aviat Networks (NASDAQ:AVNW - Get Free Report) had its target price decreased by Citizens Jmp from $30.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "market outperform" rating on the communications equipment provider's stock. Citizens Jmp's price target suggests a potential upside of 53.52% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Lake Street Capital set a $31.00 target price on shares of Aviat Networks and gave the company a "buy" rating in a report on Tuesday. B. Riley Financial restated a "buy" rating and issued a $36.00 target price (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Zacks Research upgraded shares of Aviat Networks from a "strong sell" rating to a "hold" rating in a report on Friday, January 23rd. Wall Street Zen downgraded shares of Aviat Networks from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Finally, Roth Mkm lowered their target price on shares of Aviat Networks from $41.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

Aviat Networks Trading Up 7.9%

Shares of NASDAQ:AVNW traded up $1.20 during trading on Wednesday, reaching $16.29. The stock had a trading volume of 107,274 shares, compared to its average volume of 158,802. The business has a fifty day moving average price of $23.39 and a 200-day moving average price of $22.86. 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 stock has a market cap of $210.08 million, a P/E ratio of 23.36 and a beta of 0.82. 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 posted its quarterly earnings data on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates 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 6.92%. As a group, analysts anticipate that Aviat Networks will post 1.95 earnings per share for the current fiscal year.

Insider Activity at Aviat Networks

In other Aviat Networks news, CEO Pete A. Smith sold 17,086 shares of the business's stock in a transaction that occurred on Monday, February 9th. The shares were 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 directly owned 358,747 shares in the company, valued at $9,445,808.51. The trade was a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gary Croke sold 6,914 shares of the business'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 transaction of $181,146.80. Following the sale, the senior vice president owned 43,868 shares of the company's stock, valued at approximately $1,149,341.60. This represents a 13.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Aviat Networks

Institutional investors have recently bought and sold shares of the business. Pacific Ridge Capital Partners LLC grew its stake in Aviat Networks by 34.5% during 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 buying an additional 79,774 shares during the period. Weber Capital Management LLC ADV purchased a new stake in Aviat Networks during the fourth quarter worth approximately $3,099,000. Acuitas Investments LLC grew its stake in Aviat Networks by 100.1% during the third quarter. Acuitas Investments LLC now owns 63,377 shares of the communications equipment provider's stock worth $1,453,000 after buying an additional 31,700 shares during the period. White Pine Capital LLC grew its stake in Aviat Networks by 95.4% during the third quarter. White Pine Capital LLC now owns 54,926 shares of the communications equipment provider's stock worth $1,259,000 after buying an additional 26,813 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Aviat Networks during the third quarter worth $534,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

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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