Aviat Networks (NASDAQ:AVNW) PT Lowered to $55.00 at B. Riley

Aviat Networks (NASDAQ:AVNW) had its price target trimmed by B. Riley from $59.00 to $55.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

Several other research firms also recently issued reports on AVNW. JMP Securities reissued a market outperform rating and issued a $50.00 target price on shares of Aviat Networks in a research report on Monday, February 5th. StockNews.com upgraded Aviat Networks from a sell rating to a hold rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $53.75.

Aviat Networks Stock Up 5.3 %

NASDAQ AVNW traded up $1.52 during trading on Thursday, hitting $29.91. The company’s stock had a trading volume of 221,578 shares, compared to its average volume of 112,366. Aviat Networks has a fifty-two week low of $21.15 and a fifty-two week high of $38.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.63. The company has a market cap of $375.67 million, a PE ratio of 26.47 and a beta of 1.78. The business’s 50 day simple moving average is $34.92 and its 200-day simple moving average is $32.36.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. The company had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. During the same quarter last year, the business earned $0.61 earnings per share. On average, equities analysts anticipate that Aviat Networks will post 3.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Aviat Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Aviat Networks by 4.3% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $531,000 after buying an additional 709 shares during the period. LVZ Inc. lifted its holdings in Aviat Networks by 11.2% in the fourth quarter. LVZ Inc. now owns 8,268 shares of the communications equipment provider’s stock valued at $270,000 after acquiring an additional 834 shares during the period. Watershed Asset Management L.L.C. boosted its position in Aviat Networks by 9.9% in the 4th quarter. Watershed Asset Management L.L.C. now owns 9,346 shares of the communications equipment provider’s stock worth $305,000 after purchasing an additional 841 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Aviat Networks during the 3rd quarter worth approximately $31,000. Finally, SG Americas Securities LLC increased its holdings in shares of Aviat Networks by 30.4% during the 4th quarter. SG Americas Securities LLC now owns 6,218 shares of the communications equipment provider’s stock valued at $203,000 after purchasing an additional 1,450 shares in the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Company Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.