Brokerages Set Aviat Networks, Inc. (NASDAQ:AVNW) PT at $38.60

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

A number of research firms have issued reports on AVNW. Northland Securities cut their price target on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Lake Street Capital cut their price target on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday. Roth Mkm cut their price target on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday. B. Riley cut their price objective on Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Finally, StockNews.com downgraded Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday.

Aviat Networks Trading Up 3.8 %

Shares of Aviat Networks stock opened at $14.39 on Wednesday. Aviat Networks has a 12-month low of $12.95 and a 12-month high of $38.85. The company has a market cap of $182.41 million, a price-to-earnings ratio of -46.42 and a beta of 1.81. The company has a current ratio of 1.85, a quick ratio of 1.57 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $21.84 and its 200-day moving average price is $26.86.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $116.66 million for the quarter. Aviat Networks had a net margin of 2.89% and a return on equity of 13.47%. On average, equities analysts expect that Aviat Networks will post 2.08 earnings per share for the current fiscal year.

Institutional Trading of Aviat Networks

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hodges Capital Management Inc. raised its position in Aviat Networks by 80.8% during the 2nd quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after purchasing an additional 163,365 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Aviat Networks by 8.5% in the third quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock valued at $15,063,000 after acquiring an additional 54,339 shares in the last quarter. Anchor Capital Advisors LLC purchased a new stake in Aviat Networks in the first quarter worth about $1,330,000. Select Equity Group L.P. lifted its stake in Aviat Networks by 8.7% in the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after acquiring an additional 30,582 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Aviat Networks during the 3rd quarter worth about $598,000. 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.