Aviat Networks (NASDAQ:AVNW) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Aviat Networks (NASDAQ:AVNW) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other research firms have also weighed in on AVNW. B. Riley Financial reissued a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Aviat Networks in a research report on Wednesday, February 4th. Roth Mkm reduced their price target on shares of Aviat Networks from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Citizens Jmp reissued a “market outperform” rating and issued a $30.00 price objective on shares of Aviat Networks in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Aviat Networks in a report on Monday, December 29th. Finally, Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Aviat Networks Trading Down 2.0%

NASDAQ:AVNW opened at $22.48 on Friday. Aviat Networks has a 52 week low of $15.80 and a 52 week high of $27.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.85. The firm’s fifty day moving average is $24.38 and its 200-day moving average is $23.08. The firm has a market cap of $289.99 million, a P/E ratio of 20.07 and a beta of 0.83.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. The business had revenue of $111.47 million during the quarter, compared to the consensus estimate of $109.67 million. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%. Equities analysts expect that Aviat Networks will post 0.5 earnings per share for the current year.

Insider Activity at Aviat Networks

In other Aviat Networks news, SVP Gary Croke sold 6,914 shares of Aviat Networks stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $26.20, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Pete A. Smith sold 17,086 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $26.33, for a total transaction of $449,874.38. Following the sale, the chief executive officer directly owned 358,747 shares in the company, valued at $9,445,808.51. This trade represents a 4.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Aviat Networks during the third quarter worth about $27,000. Raymond James Financial Inc. purchased a new position in Aviat Networks in the second quarter worth $28,000. Potomac Capital Management Inc. purchased a new position in Aviat Networks in the fourth quarter worth $43,000. Comerica Bank increased its stake in Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 780 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake 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 acquiring an additional 1,120 shares during the last quarter. 78.62% of the stock is currently 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.