Analysts Set Aviat Networks, Inc. (NASDAQ:AVNW) Price Target at $38.60

Aviat Networks, Inc. (NASDAQ:AVNW) has been assigned an average rating of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $38.60.

AVNW has been the topic of several analyst reports. Northland Securities dropped their price target on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. StockNews.com downgraded shares of Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. B. Riley reduced their price target on Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 13th. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. Finally, Lake Street Capital cut their price objective on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th.

Aviat Networks Price Performance

AVNW opened at $17.82 on Thursday. The stock has a fifty day moving average price of $17.27 and a 200 day moving average price of $23.20. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. Aviat Networks has a 1 year low of $12.95 and a 1 year high of $38.85. The stock has a market cap of $226.14 million, a price-to-earnings ratio of -57.48 and a beta of 1.72.

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

Insider Transactions at Aviat Networks

In related news, CEO Pete A. Smith acquired 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the acquisition, the chief executive officer now owns 298,539 shares in the company, valued at $4,218,356.07. This trade represents a 1.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Connaway acquired 3,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $14.13 per share, with a total value of $49,455.00. Following the transaction, the chief financial officer now directly owns 57,893 shares of the company’s stock, valued at $818,028.09. The trade was a 6.43 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 7,400 shares of company stock worth $106,110. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVNW. JPMorgan Chase & Co. boosted its holdings in Aviat Networks by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 364,100 shares of the communications equipment provider’s stock valued at $7,875,000 after purchasing an additional 11,094 shares in the last quarter. Franklin Resources Inc. grew its position in Aviat Networks by 15.3% in the third quarter. Franklin Resources Inc. now owns 170,652 shares of the communications equipment provider’s stock valued at $3,853,000 after acquiring an additional 22,665 shares during the period. Barclays PLC lifted its holdings 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 valued at $344,000 after acquiring an additional 11,926 shares during the period. Hodges Capital Management Inc. boosted its stake in shares of Aviat Networks by 27.3% in the 3rd quarter. Hodges Capital Management Inc. now owns 465,483 shares of the communications equipment provider’s stock valued at $10,068,000 after purchasing an additional 99,948 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Aviat Networks by 59.1% in the 3rd quarter. Jane Street Group LLC now owns 24,737 shares of the communications equipment provider’s stock worth $535,000 after purchasing an additional 9,186 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors.

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.