Aviat Networks, Inc. (NASDAQ:AVNW) Receives Average Recommendation of “Buy” from Brokerages

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) have been assigned a consensus rating of “Buy” from the five analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have covered the stock in the last year is $38.60.

Several brokerages have recently commented on AVNW. StockNews.com lowered Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Lake Street Capital cut their price objective on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Northland Securities cut their price objective on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. 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, Roth Mkm cut their price objective on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, November 6th.

Insider Buying and Selling

In related news, CFO Michael Connaway acquired 3,500 shares of the stock in a transaction on Friday, November 8th. The stock was purchased at an average price of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the transaction, the chief financial officer now owns 57,893 shares of the company’s stock, valued at $818,028.09. This trade represents a 6.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Pete A. Smith acquired 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was bought at an average price of $14.13 per share, with a total value of $42,390.00. Following the transaction, the chief executive officer now directly owns 298,539 shares of the company’s stock, 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. Insiders bought 7,400 shares of company stock worth $106,110 in the last quarter. 4.10% of the stock is owned by insiders.

Institutional Trading of Aviat Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in shares of Aviat Networks by 2.9% during the second quarter. Rhumbline Advisers now owns 18,716 shares of the communications equipment provider’s stock valued at $537,000 after buying an additional 523 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Aviat Networks by 1.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 99,300 shares of the communications equipment provider’s stock valued at $2,148,000 after buying an additional 1,100 shares during the period. GAMMA Investing LLC purchased a new position in shares of Aviat Networks during the fourth quarter valued at approximately $34,000. Delphi Management Inc. MA increased its stake in shares of Aviat Networks by 10.9% during the second quarter. Delphi Management Inc. MA now owns 23,788 shares of the communications equipment provider’s stock valued at $682,000 after buying an additional 2,337 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Aviat Networks by 15.6% during the second quarter. American Century Companies Inc. now owns 17,604 shares of the communications equipment provider’s stock valued at $505,000 after buying an additional 2,375 shares during the period. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Stock Down 0.9 %

AVNW stock opened at $19.10 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $242.38 million, a PE ratio of -61.61 and a beta of 1.69. Aviat Networks has a twelve month low of $12.95 and a twelve month high of $38.85. The stock has a 50-day simple moving average of $16.99 and a two-hundred day simple moving average of $22.03.

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.