Aviat Networks, Inc. (NASDAQ:AVNW) Receives Consensus Recommendation of “Buy” from Brokerages

Aviat Networks, Inc. (NASDAQ:AVNW) has received a consensus recommendation of “Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $38.60.

A number of brokerages have commented on AVNW. JMP Securities reissued a “market outperform” rating and issued a $50.00 price objective on shares of Aviat Networks in a research note on Tuesday, October 8th. Roth Mkm decreased their price target on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. StockNews.com lowered shares of Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Northland Securities decreased their target price on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, B. Riley dropped their price target on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, September 13th.

Aviat Networks Trading Down 0.2 %

NASDAQ AVNW opened at $16.88 on Thursday. The stock has a market capitalization of $214.21 million, a P/E ratio of -54.45 and a beta of 1.72. The business has a 50 day simple moving average of $17.48 and a 200 day simple moving average of $23.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40. Aviat Networks has a one year low of $12.95 and a one year high of $38.85.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. The company had revenue of $116.66 million during the quarter. Research analysts expect that Aviat Networks will post 1.13 earnings per share for the current year.

Insider Activity at Aviat Networks

In other news, CEO Pete A. Smith acquired 3,000 shares of Aviat Networks stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $14.13 per share, with a total value of $42,390.00. Following the completion of the acquisition, the chief executive officer now owns 298,539 shares in the company, valued at approximately $4,218,356.07. This trade represents a 1.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Connaway bought 3,500 shares of the stock in a transaction on Friday, November 8th. The stock was purchased at an average price of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the purchase, the chief financial officer now owns 57,893 shares of the company’s stock, valued at approximately $818,028.09. This trade represents a 6.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 7,400 shares of company stock valued at $106,110. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Aviat Networks

Several large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Aviat Networks by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 170,652 shares of the communications equipment provider’s stock worth $3,853,000 after buying an additional 22,665 shares during the period. Barclays PLC lifted its position in shares of Aviat Networks by 298.0% during the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock worth $344,000 after acquiring an additional 11,926 shares in the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Aviat Networks by 27.3% in the third quarter. Hodges Capital Management Inc. now owns 465,483 shares of the communications equipment provider’s stock worth $10,068,000 after acquiring an additional 99,948 shares during the period. Jane Street Group LLC grew its position in shares of Aviat Networks by 59.1% in the third quarter. Jane Street Group LLC now owns 24,737 shares of the communications equipment provider’s stock valued at $535,000 after purchasing an additional 9,186 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Aviat Networks by 1.6% during the 3rd quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock valued at $5,141,000 after purchasing an additional 3,855 shares during the period. Hedge funds and other 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.