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

Aviat Networks, Inc. (NASDAQ:AVNW) has received an average recommendation of “Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.60.

A number of equities analysts recently weighed in on the stock. Roth Mkm dropped their target price on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. B. Riley lowered their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 13th. StockNews.com downgraded shares of Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Northland Securities cut their target price on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, Lake Street Capital cut their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th.

Aviat Networks Stock Up 5.3 %

NASDAQ AVNW opened at $16.79 on Friday. 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 1 year low of $12.95 and a 1 year high of $38.85. The business’s 50-day moving average is $19.00 and its 200 day moving average is $24.88.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. The firm had revenue of $116.66 million for the quarter. As a group, sell-side analysts anticipate that Aviat Networks will post 1.13 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in Aviat Networks in the second quarter valued at about $29,000. NBC Securities Inc. acquired a new position in Aviat Networks in the third quarter valued at about $62,000. Dynamic Technology Lab Private Ltd acquired a new position in Aviat Networks in the third quarter valued at about $263,000. BNP Paribas Financial Markets lifted its position in Aviat Networks by 635.0% in the third quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider’s stock valued at $308,000 after buying an additional 12,306 shares during the last quarter. Finally, Barclays PLC lifted its position in Aviat Networks by 298.0% in the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock valued at $344,000 after buying an additional 11,926 shares during the last quarter. Institutional investors and hedge funds 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.