Northland Securities Reaffirms “Outperform” Rating for Aviat Networks (NASDAQ:AVNW)

Aviat Networks (NASDAQ:AVNW)‘s stock had its “outperform” rating reaffirmed by analysts at Northland Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $30.00 target price on the communications equipment provider’s stock, up from their previous target price of $27.00. Northland Securities’ price objective would suggest a potential upside of 22.10% from the stock’s current price.

Several other equities research analysts also recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a report on Tuesday, October 8th. StockNews.com downgraded Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Roth Mkm dropped their target price on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Lake Street Capital dropped their target price on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.60.

Aviat Networks Stock Performance

Aviat Networks stock opened at $24.57 on Wednesday. The stock’s 50-day moving average is $18.43 and its 200-day moving average is $21.29. The company has a market cap of $311.79 million, a price-to-earnings ratio of -79.26 and a beta of 1.68. 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 12 month low of $12.95 and a 12 month high of $38.85.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.57. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. Equities analysts anticipate that Aviat Networks will post 1.13 earnings per share for the current year.

Institutional Investors Weigh In On Aviat Networks

A number of hedge funds have recently bought and sold shares of the business. Royce & Associates LP grew its stake in Aviat Networks by 8.5% during the 3rd quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock valued at $15,063,000 after purchasing an additional 54,339 shares in the last quarter. Hodges Capital Management Inc. grew its position in shares of Aviat Networks by 20.9% in the 4th quarter. Hodges Capital Management Inc. now owns 562,710 shares of the communications equipment provider’s stock worth $10,190,000 after acquiring an additional 97,227 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Aviat Networks by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,100 shares of the communications equipment provider’s stock worth $7,875,000 after acquiring an additional 11,094 shares in the last quarter. State Street Corp grew its position in shares of Aviat Networks by 1.6% in the 3rd quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock worth $5,141,000 after acquiring an additional 3,855 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of 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 acquiring an additional 22,665 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.