Northland Securities Reaffirms Market Perform Rating for Aviat Networks (NASDAQ:AVNW)

Key Points

• Northland Securities reaffirmed a Market Perform rating on Aviat and set a $20 price objective, implying roughly an 11.7% downside from current levels.
• Analyst views are mixed—four Buys and three Holds—resulting in a MarketBeat consensus of Moderate Buy with a consensus price target of $31.60.
• Aviat missed its latest quarter (EPS $0.06 vs. $0.42 expected; revenue $100M vs. $106.4M) and the stock is trading down about 2% near $22.64.

Aviat Networks (NASDAQ:AVNW - Get Free Report)'s stock had its "market perform" rating restated by stock analysts at Northland Securities in a note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $20.00 price objective on the communications equipment provider's stock. Northland Securities' price target would indicate a potential downside of 11.66% from the stock's current price.

Several other equities research analysts have also issued reports on AVNW. Roth Mkm lowered their price objective on Aviat Networks from $41.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, February 4th. B. Riley Financial restated a "buy" rating and set a $36.00 price target (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Citizens Jmp restated a "market outperform" rating and issued a $30.00 price target on shares of Aviat Networks in a research report on Wednesday, February 4th. Zacks Research raised shares of Aviat Networks from a "strong sell" rating to a "hold" rating in a research note on Friday, January 23rd. Finally, Wall Street Zen downgraded shares of Aviat Networks from a "buy" rating to a "hold" rating in a research note on Sunday, April 26th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $31.60.

Aviat Networks Trading Down 2.1%

NASDAQ:AVNW opened at $22.64 on Tuesday. The firm has a market capitalization of $292.06 million, a price-to-earnings ratio of 20.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.85 and a quick ratio of 1.56. The business has a fifty day moving average price of $23.58 and a 200-day moving average price of $22.92. Aviat Networks has a one year low of $18.40 and a one year high of $27.02.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last released 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 business had revenue of $100.00 million during the quarter, compared to the consensus estimate of $106.39 million. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%. Sell-side analysts forecast that Aviat Networks will post 1.95 EPS for the current year.

Insider Activity at Aviat Networks

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

Institutional Investors Weigh In On Aviat Networks

Several hedge funds have recently modified their holdings of the company. Comerica Bank increased its position in shares of Aviat Networks by 40.2% during the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider's stock worth $52,000 after purchasing an additional 780 shares in the last quarter. BNP Paribas Financial Markets raised its position in Aviat Networks by 96.5% in the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider's stock valued at $52,000 after purchasing an additional 1,120 shares during the period. Rhumbline Advisers boosted its stake in Aviat Networks by 6.7% during the second quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider's stock worth $441,000 after buying an additional 1,148 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Aviat Networks during the second quarter worth $28,000. Finally, Quarry LP acquired a new stake in Aviat Networks in the third quarter valued at approximately $27,000. 78.62% of the stock is 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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