Aviat Networks (NASDAQ:AVNW) Upgraded by Zacks Research to “Hold” Rating

Aviat Networks (NASDAQ:AVNW) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the company. Craig Hallum assumed coverage on Aviat Networks in a research report on Tuesday, June 30th. They issued a “buy” rating and a $36.00 target price on the stock. Wall Street Zen cut Aviat Networks from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Northland Securities boosted their price target on Aviat Networks from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Rafferty Capital Markets began 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. Finally, Citigroup upgraded Aviat Networks to an “outperform” rating in a research report on Monday, June 15th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Aviat Networks presently has an average rating of “Moderate Buy” and a consensus target price of $33.14.

Aviat Networks Price Performance

NASDAQ:AVNW opened at $20.54 on Monday. The company has a market cap of $265.79 million, a P/E ratio of 29.77 and a beta of 0.70. The firm’s fifty day moving average price is $18.81 and its two-hundred day moving average price is $21.63. Aviat Networks has a one year low of $13.92 and a one year high of $27.02. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.99 and a quick ratio of 1.67.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Monday, May 4th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%.The company had revenue of $100.00 million for the quarter, compared to the consensus estimate of $106.39 million. Equities analysts expect that Aviat Networks will post 1.14 earnings per share for the current year.

Institutional Investors Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Weber Capital Management LLC ADV bought a new stake in shares of Aviat Networks in the fourth quarter valued at approximately $3,099,000. Western Standard LLC raised its holdings in Aviat Networks by 84.5% in the 4th quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock valued at $10,567,000 after acquiring an additional 226,332 shares in the last quarter. North Star Investment Management Corp. acquired a new position in Aviat Networks in the 1st quarter valued at $610,000. Pacific Ridge Capital Partners LLC lifted its position in shares of Aviat Networks by 19.3% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 371,258 shares of the communications equipment provider’s stock valued at $7,937,000 after acquiring an additional 60,004 shares during the period. Finally, Royce & Associates LP grew its holdings in shares of Aviat Networks by 8.5% during the 4th quarter. Royce & Associates LP now owns 648,235 shares of the communications equipment provider’s stock worth $13,859,000 after purchasing an additional 51,000 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.

About Aviat Networks

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.