Aviat Networks, Inc. (NASDAQ:AVNW – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $32.71.
AVNW has been the topic of several research reports. B. Riley Financial reissued a “buy” rating and issued a $33.00 target price (up from $28.00) on shares of Aviat Networks in a research report on Friday, August 28th. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday. Roth Capital restated a “buy” rating and set a $38.00 price objective (up from $34.00) on shares of Aviat Networks in a research note on Friday, August 28th. Weiss Ratings downgraded shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 30th. Finally, Citigroup restated a “market outperform” rating on shares of Aviat Networks in a report on Friday, August 28th.
Check Out Our Latest Research Report on Aviat Networks
Insider Activity at Aviat Networks
In other news, VP Erin Boase sold 1,347 shares of Aviat Networks stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $26,522.43. Following the sale, the vice president directly owned 28,275 shares of the company’s stock, valued at approximately $556,734.75. The trade was a 4.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Pete A. Smith sold 14,264 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 transaction of $280,858.16. Following the completion of the transaction, the chief executive officer directly owned 367,840 shares of the company’s stock, valued at approximately $7,242,769.60. This represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,240 shares of company stock valued at $319,766 in the last ninety days. 5.70% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of AVNW. Squarepoint Ops LLC acquired a new stake in shares of Aviat Networks during the second quarter worth $1,095,000. Tieton Capital Management LLC acquired a new position in shares of Aviat Networks in the second quarter valued at about $15,017,000. Sei Investments Co. boosted its holdings in shares of Aviat Networks by 122.2% during 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 in the last quarter. Bank of New York Mellon Corp acquired a new stake in Aviat Networks in the second quarter valued at approximately $1,076,000. Finally, Assenagon Asset Management S.A. purchased a new position in Aviat Networks in the third quarter valued at about $748,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.
Aviat Networks Stock Performance
Shares of AVNW stock opened at $17.66 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.66. The company has a fifty day moving average price of $19.85 and a two-hundred day moving average price of $21.09. Aviat Networks has a one year low of $13.92 and a one year high of $27.02. The stock has a market cap of $227.11 million, a P/E ratio of 92.95 and a beta of 0.77.
Aviat Networks (NASDAQ:AVNW – Get Free Report) last announced its quarterly earnings data 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. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. The business had revenue of $120.89 million for the quarter, compared to analyst estimates of $110.12 million. As a group, equities 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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