Aviat Networks (NASDAQ:AVNW) Given “Market Outperform” Rating at JMP Securities

Aviat Networks (NASDAQ:AVNW)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $50.00 target price on the communications equipment provider’s stock. JMP Securities’ price target indicates a potential upside of 132.56% from the company’s previous close.

Several other research firms have also recently commented on AVNW. B. Riley reduced their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 13th. StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Monday. Lake Street Capital reduced their target price on shares of Aviat Networks from $51.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Northland Securities reduced their target price on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Aviat Networks has an average rating of “Buy” and a consensus price target of $43.00.

Aviat Networks Stock Performance

NASDAQ:AVNW traded down $1.24 during trading hours on Tuesday, reaching $21.50. 122,965 shares of the company’s stock were exchanged, compared to its average volume of 106,418. The firm has a market capitalization of $270.15 million, a price-to-earnings ratio of 19.03 and a beta of 1.80. The company has a 50-day moving average of $25.21 and a 200 day moving average of $29.22. The company has a quick ratio of 1.79, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. Aviat Networks has a 1-year low of $18.00 and a 1-year high of $38.85.

Institutional Investors Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently modified their holdings of the company. Anchor Capital Advisors LLC purchased a new stake in shares of Aviat Networks during the first quarter worth about $1,330,000. Select Equity Group L.P. grew its holdings in shares of Aviat Networks by 8.7% during 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 buying an additional 30,582 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Aviat Networks by 2.2% during the first quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock worth $21,166,000 after buying an additional 11,662 shares in the last quarter. Hodges Capital Management Inc. grew its holdings in shares of Aviat Networks by 80.8% during the second quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock worth $10,487,000 after buying an additional 163,365 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Aviat Networks by 45.4% during the first quarter. Private Advisor Group LLC now owns 12,832 shares of the communications equipment provider’s stock worth $492,000 after buying an additional 4,009 shares in the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

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.