StockNews.com Upgrades Aviat Networks (NASDAQ:AVNW) to “Hold”

Aviat Networks (NASDAQ:AVNWGet Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Other equities research analysts have also recently issued research reports about the company. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price target on shares of Aviat Networks in a report on Monday, February 5th. B. Riley cut their price target on Aviat Networks from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

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Aviat Networks Price Performance

Shares of Aviat Networks stock opened at $37.24 on Friday. The business has a 50 day simple moving average of $33.55 and a two-hundred day simple moving average of $31.61. Aviat Networks has a 12 month low of $21.15 and a 12 month high of $37.84. The stock has a market capitalization of $467.36 million, a P/E ratio of 29.32 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.00 and a quick ratio of 1.63.

Aviat Networks (NASDAQ:AVNWGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. Aviat Networks had a return on equity of 15.11% and a net margin of 4.23%. The firm had revenue of $95.04 million during the quarter, compared to analysts’ expectations of $91.85 million. As a group, analysts predict that Aviat Networks will post 3.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Aviat Networks by 282.8% during the first quarter. FMR LLC now owns 800 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 591 shares during the period. Belpointe Asset Management LLC raised its stake in shares of Aviat Networks by 437.5% in the first quarter. Belpointe Asset Management LLC now owns 860 shares of the communications equipment provider’s stock valued at $30,000 after acquiring an additional 700 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Aviat Networks in the third quarter valued at $31,000. Tower Research Capital LLC TRC raised its stake in shares of Aviat Networks by 133.5% in the first quarter. Tower Research Capital LLC TRC now owns 1,163 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 665 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Aviat Networks in the second quarter valued at $55,000. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

Aviat Networks Company Profile

(Get Free Report)

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.

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