Aviat Networks (NASDAQ:AVNW) Stock Rating Lowered by Zacks Research

Aviat Networks (NASDAQ:AVNW) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday, Zacks reports.

Other research analysts also recently issued research reports about the company. Craig Hallum started coverage on Aviat Networks in a report on Tuesday, June 30th. They issued a “buy” rating and a $36.00 price target for the company. Weiss Ratings cut shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, September 28th. B. Riley Financial reissued a “buy” rating and issued a $33.00 price objective (up from $28.00) on shares of Aviat Networks in a report on Friday, August 28th. Northland Securities increased their target price on Aviat Networks from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Aviat Networks from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.71.

Aviat Networks Price Performance

Aviat Networks stock opened at $20.42 on Wednesday. Aviat Networks has a 1 year low of $13.92 and a 1 year high of $27.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97. The firm has a 50 day moving average price of $20.47 and a 200 day moving average price of $20.26. The company has a market cap of $262.60 million, a price-to-earnings ratio of 107.47 and a beta of 0.68.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. The company had revenue of $120.89 million during the quarter, compared to analysts’ expectations of $110.12 million. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. Sell-side analysts predict that Aviat Networks will post 2.09 earnings per share for the current year.

Insider Activity at Aviat Networks

In other Aviat Networks news, VP Erin Boase sold 1,347 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was 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 directly owned 28,275 shares in the company, valued at $556,734.75. This represents a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Pete Smith sold 14,264 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $280,858.16. Following the completion of the sale, the chief executive officer directly owned 367,840 shares in the company, valued at $7,242,769.60. This represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,240 shares of company stock worth $319,766. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds have recently modified their holdings of the stock. Tieton Capital Management LLC purchased a new stake in Aviat Networks in the 2nd quarter worth about $15,017,000. First Wilshire Securities Management Inc. lifted its position in shares of Aviat Networks by 1.0% in the first quarter. First Wilshire Securities Management Inc. now owns 529,533 shares of the communications equipment provider’s stock worth $11,973,000 after purchasing an additional 5,302 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Aviat Networks by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 432,521 shares of the communications equipment provider’s stock worth $9,779,000 after purchasing an additional 25,374 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Aviat Networks by 122.2% during the first quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider’s stock worth $9,775,000 after purchasing an additional 237,761 shares during the period. Finally, Aristides Capital LLC grew its position in Aviat Networks by 9.6% during the first quarter. Aristides Capital LLC now owns 114,691 shares of the communications equipment provider’s stock valued at $2,593,000 after purchasing an additional 10,016 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 (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.