Aviat Networks, Inc. (NASDAQ:AVNW) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Aviat Networks has a “Moderate Buy” consensus rating from 11 analysts, with nine buys and two holds. The average 12-month price target is $32.71, above the reported $20.58 share price.
• The company exceeded quarterly expectations, reporting EPS of $0.64 versus the $0.55 consensus and revenue of $120.89 million compared with estimates of $110.12 million.
• Institutional investors own 78.62% of Aviat Networks, while insiders sold 16,240 shares worth approximately $319,766 over the past 90 days.

Shares of Aviat Networks, Inc. (NASDAQ:AVNW - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $32.7143.

A number of equities analysts have recently weighed in on AVNW shares. Weiss Ratings upgraded Aviat Networks from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, September 11th. Craig Hallum started coverage on Aviat Networks in a research report on Tuesday, June 30th. They set a "buy" rating and a $36.00 target price on the stock. Rafferty Capital Markets started coverage on shares of Aviat Networks in a research note on Tuesday, June 30th. They set a "buy" rating and a $36.00 price objective for the company. Northland Securities raised their price target on Aviat Networks from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, July 2nd. Finally, B. Riley Financial reaffirmed a "buy" rating and set a $33.00 price objective (up from $28.00) on shares of Aviat Networks in a report on Friday, August 28th.

Insider Buying and Selling at Aviat Networks

In related news, CEO Pete A. Smith sold 14,264 shares of the company's 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 transaction, the chief executive officer owned 367,840 shares in the company, valued at $7,242,769.60. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Erin Boase sold 1,347 shares of the firm's 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 completion of the sale, the vice president directly owned 28,275 shares of the company's stock, valued at $556,734.75. The trade was a 4.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,240 shares of company stock worth $319,766. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AVNW. Tieton Capital Management LLC purchased a new position in Aviat Networks in the 2nd quarter worth about $15,017,000. Sei Investments Co. increased its holdings in shares of Aviat Networks by 122.2% in the 1st quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider's stock valued at $9,775,000 after acquiring an additional 237,761 shares during the period. Inspire Investing LLC bought a new position in Aviat Networks in the first quarter worth about $1,465,000. Royce & Associates LP grew its holdings in Aviat Networks by 8.5% in the fourth quarter. Royce & Associates LP now owns 648,235 shares of the communications equipment provider's stock worth $13,859,000 after purchasing an additional 51,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Aviat Networks during the 2nd quarter valued at about $1,095,000. Hedge funds and other institutional investors own 78.62% of the company's stock.

Aviat Networks Stock Performance

Shares of AVNW stock opened at $20.58 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.66 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $20.60 and a two-hundred day simple moving average of $20.81. Aviat Networks has a 12 month low of $13.92 and a 12 month high of $27.02. The firm has a market capitalization of $263.47 million, a PE ratio of 108.32 and a beta of 0.70.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last posted its earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.55 by $0.09. The company had revenue of $120.89 million during the quarter, compared to the consensus estimate of $110.12 million. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. Analysts forecast that Aviat Networks will post 2.24 EPS for the current fiscal year.

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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