Aviat Networks, Inc. (NASDAQ:AVNW) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus: Eight of ten covering brokerages rate Aviat Networks a buy, while one rates it hold and one sell. Their average 12-month price target is $32.71.
• Aviat reported quarterly EPS of $0.64, above the $0.55 consensus, and revenue of $120.89 million, exceeding forecasts of $110.12 million.
• Company insiders sold 16,240 shares worth about $319,766 over the past three months; institutional investors and hedge funds own 78.62% of the stock.

Aviat Networks, Inc. (NASDAQ:AVNW - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $32.71.

A number of analysts have weighed in on the company. Weiss Ratings cut Aviat Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 30th. Citigroup reissued a "market outperform" rating on shares of Aviat Networks in a research note on Friday, August 28th. Wall Street Zen upgraded shares of Aviat Networks from a "hold" rating to a "buy" rating in a report on Saturday, October 3rd. Zacks Research upgraded Aviat Networks from a "strong sell" rating to a "hold" rating in a report on Thursday. Finally, B. Riley Financial reiterated a "buy" rating and issued a $33.00 price objective (up from $28.00) on shares of Aviat Networks in a report on Friday, August 28th.

Insider Transactions at Aviat Networks

In related news, CEO Pete Smith sold 14,264 shares of the business's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $280,858.16. Following the sale, the chief executive officer directly owned 367,840 shares in the company, valued at approximately $7,242,769.60. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Erin Boase sold 1,347 shares of the company's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $19.69, for a total transaction of $26,522.43. Following the transaction, the vice president owned 28,275 shares in the company, valued at approximately $556,734.75. This trade represents a 4.55% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 16,240 shares of company stock worth $319,766. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Aviat Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tectonic Advisors LLC boosted its position in shares of Aviat Networks by 14.3% during the third quarter. Tectonic Advisors LLC now owns 37,073 shares of the communications equipment provider's stock worth $743,000 after purchasing an additional 4,640 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Aviat Networks during the third quarter valued at about $748,000. Farther Finance Advisors LLC increased its holdings in shares of Aviat Networks by 1,026.8% in the third quarter. Farther Finance Advisors LLC now owns 1,893 shares of the communications equipment provider's stock worth $38,000 after buying an additional 1,725 shares during the period. WINTON GROUP Ltd increased its stake in shares of Aviat Networks by 6.1% during the second quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider's stock valued at $268,000 after purchasing an additional 692 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Aviat Networks during the 2nd quarter worth $1,095,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Aviat Networks Price Performance

AVNW opened at $17.66 on Friday. The stock has a market capitalization of $227.11 million, a PE ratio of 92.95 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97. The stock's 50 day moving average price is $19.85 and its 200-day moving average price is $21.09. Aviat Networks has a 52-week low of $13.92 and a 52-week high of $27.02.

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

About Aviat Networks

Aviat Networks, Inc provides wireless networking solutions for communications service providers, government agencies and enterprises. The company specializes in mission-critical connectivity for applications where reliable, high-capacity communications are essential, including telecommunications, public safety, utilities, transportation and defense.

Its product portfolio includes microwave and millimeter-wave wireless transmission systems, routers, access and aggregation equipment, network management software and related cybersecurity solutions.

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