Aviat Networks (NASDAQ:AVNW) Upgraded at StockNews.com

Aviat Networks (NASDAQ:AVNW) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other brokerages also recently weighed in on AVNW. B. Riley decreased their target price on Aviat Networks from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research note on Monday, February 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $53.75.

Aviat Networks Stock Performance

Aviat Networks stock opened at $29.91 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.63. Aviat Networks has a 12 month low of $21.15 and a 12 month high of $38.85. The company has a market cap of $375.67 million, a price-to-earnings ratio of 26.47 and a beta of 1.78. The stock’s 50-day moving average is $34.92 and its 200-day moving average is $32.36.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. The business had revenue of $111.61 million for the quarter, compared to analysts’ expectations of $113.56 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Equities analysts anticipate that Aviat Networks will post 3.01 earnings per share for the current year.

Institutional Trading of Aviat Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY grew its holdings in Aviat Networks by 16.8% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 877,812 shares of the communications equipment provider’s stock worth $27,388,000 after acquiring an additional 126,101 shares in the last quarter. LSV Asset Management lifted its position in shares of Aviat Networks by 12.8% during the third quarter. LSV Asset Management now owns 367,691 shares of the communications equipment provider’s stock worth $11,472,000 after purchasing an additional 41,850 shares during the last quarter. Wellington Management Group LLP grew its stake in Aviat Networks by 1.1% in the third quarter. Wellington Management Group LLP now owns 267,334 shares of the communications equipment provider’s stock worth $8,341,000 after purchasing an additional 2,967 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Aviat Networks by 9.3% in the third quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock worth $6,214,000 after purchasing an additional 16,875 shares in the last quarter. Finally, B. Riley Asset Management LLC increased its holdings in Aviat Networks by 48.9% in the third quarter. B. Riley Asset Management LLC now owns 156,278 shares of the communications equipment provider’s stock valued at $4,876,000 after buying an additional 51,289 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

About Aviat Networks

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.