Aviat Networks (NASDAQ:AVNW) Upgraded by StockNews.com to Buy

Aviat Networks (NASDAQ:AVNW) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research analysts have also recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a research note on Monday, February 5th. B. Riley dropped their target price on Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.75.

Aviat Networks Trading Up 5.3 %

Aviat Networks stock traded up $1.52 during trading hours on Friday, hitting $29.91. The stock had a trading volume of 221,558 shares, compared to its average volume of 115,285. The business’s 50 day simple moving average is $35.00 and its 200-day simple moving average is $32.30. The company has a quick ratio of 1.63, a current ratio of 2.00 and a debt-to-equity ratio of 0.19. Aviat Networks has a one year low of $21.15 and a one year high of $38.85. The stock has a market cap of $375.67 million, a price-to-earnings ratio of 26.47 and a beta of 1.78.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Aviat Networks had a return on equity of 14.93% and a net margin of 3.54%. The business had revenue of $111.61 million for the quarter, compared to analyst estimates of $113.56 million. During the same period in the prior year, the business earned $0.61 EPS. On average, equities analysts predict that Aviat Networks will post 3.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Aviat Networks

Several large investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of Aviat Networks in the third quarter worth approximately $31,000. Tower Research Capital LLC TRC lifted its position in Aviat Networks by 582.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock worth $77,000 after buying an additional 2,005 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Aviat Networks during the third quarter valued at approximately $149,000. BNP Paribas Financial Markets lifted its position in shares of Aviat Networks by 84.8% during the first quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after purchasing an additional 2,513 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of Aviat Networks in the fourth quarter valued at approximately $255,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.