Aviat Networks (NASDAQ:AVNW) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Aviat Networks (NASDAQ:AVNW) from a hold rating to a buy rating in a research report report published on Friday morning.

Several other analysts 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 report on Monday, February 5th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $53.75.

Aviat Networks Stock Performance

Shares of NASDAQ:AVNW opened at $29.91 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.63 and a debt-to-equity ratio of 0.18. Aviat Networks has a 12 month low of $21.15 and a 12 month high of $38.85. The company has a market capitalization of $375.67 million, a price-to-earnings ratio of 26.47 and a beta of 1.78. The firm’s 50-day moving average is $34.92 and its 200 day moving average is $32.40.

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 net margin of 3.54% and a return on equity of 14.54%. The business had revenue of $111.61 million for the quarter, compared to the consensus estimate of $113.56 million. During the same period in the prior year, the company posted $0.61 EPS. Research analysts predict that Aviat Networks will post 3.01 EPS for the current year.

Hedge Funds Weigh In On Aviat Networks

Several institutional investors have recently made changes to their positions in AVNW. BNP Paribas Financial Markets grew its holdings in Aviat Networks by 84.8% during the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after acquiring an additional 2,513 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Aviat Networks by 45.4% in the 1st quarter. Private Advisor Group LLC now owns 12,832 shares of the communications equipment provider’s stock worth $492,000 after purchasing an additional 4,009 shares during the period. Intrinsic Edge Capital Management LLC lifted its position in shares of Aviat Networks by 80.9% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 67,100 shares of the communications equipment provider’s stock worth $2,191,000 after purchasing an additional 30,000 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Aviat Networks by 582.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock valued at $77,000 after purchasing an additional 2,005 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in Aviat Networks by 39.1% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 23,664 shares of the communications equipment provider’s stock worth $773,000 after buying an additional 6,648 shares in the last quarter. 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.