Shares of Aviat Networks, Inc. (NASDAQ:AVNW – Get Free Report) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $32.71.
Several research analysts have recently weighed in on the stock. B. Riley Financial restated a “buy” rating and set a $33.00 price objective (up from $28.00) on shares of Aviat Networks in a research note on Friday, August 28th. Rafferty Capital Markets initiated coverage on Aviat Networks in a report on Tuesday, June 30th. They issued a “buy” rating and a $36.00 price objective on the stock. Weiss Ratings cut shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, September 28th. Roth Capital reaffirmed a “buy” rating and issued a $38.00 price target (up from $34.00) on shares of Aviat Networks in a research note on Friday, August 28th. Finally, Craig Hallum started coverage on Aviat Networks in a research note on Tuesday, June 30th. They set a “buy” rating and a $36.00 target price for the company.
Aviat Networks Stock Down 2.4%
Aviat Networks (NASDAQ:AVNW – Get Free Report) last released its earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $120.89 million for the quarter, compared to the consensus estimate of $110.12 million. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%. Research analysts anticipate that Aviat Networks will post 2.09 earnings per share for the current fiscal year.
Insider Activity at Aviat Networks
In related news, CEO Pete A. Smith sold 14,264 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $19.69, for a total value of $280,858.16. Following the sale, the chief executive officer owned 367,840 shares of the company’s stock, valued at $7,242,769.60. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $26,522.43. Following the completion of the sale, the vice president owned 28,275 shares in the company, valued at $556,734.75. This trade represents a 4.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,240 shares of company stock valued at $319,766. 5.70% of the stock is owned by insiders.
Institutional Investors Weigh In On Aviat Networks
A number of institutional investors have recently modified their holdings of AVNW. Farther Finance Advisors LLC grew its stake in Aviat Networks by 1,026.8% during the third quarter. Farther Finance Advisors LLC now owns 1,893 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 1,725 shares during the period. WINTON GROUP Ltd grew its position in Aviat Networks by 6.1% in the 2nd 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 during the period. Squarepoint Ops LLC bought a new stake in shares of Aviat Networks during the second quarter worth about $1,095,000. Public Employees Retirement System of Ohio bought a new stake in Aviat Networks during the 2nd quarter worth approximately $274,000. Finally, Ancora Advisors LLC bought a new stake in Aviat Networks during the second quarter worth $55,000. 78.62% of the stock is owned by institutional investors.
About Aviat Networks
Aviat Networks, Inc (NASDAQ: AVNW) provides wireless networking solutions for communications service providers, private networks, government agencies, utilities, transportation organizations, and other critical infrastructure operators. The company specializes in connecting locations where fiber is unavailable, impractical, or requires a complementary wireless link.
Its portfolio includes microwave and millimeter-wave wireless transport systems, packet-based networking equipment, routers, wireless access products, network management software, and related installation, support, and professional services.
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