Aviat Networks, Inc. (NASDAQ:AVNW) Receives Consensus Rating of “Buy” from Analysts

Shares of Aviat Networks, Inc. (NASDAQ:AVNW – Get Rating) have received an average rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $51.33.

Several analysts recently commented on AVNW shares. StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Zacks Investment Research cut shares of Aviat Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th.

Shares of NASDAQ:AVNW opened at $28.67 on Friday. The company has a market cap of $320.24 million, a price-to-earnings ratio of 17.59 and a beta of 1.79. The firm’s 50-day simple moving average is $29.97 and its 200-day simple moving average is $29.85. Aviat Networks has a fifty-two week low of $24.26 and a fifty-two week high of $42.81.

Aviat Networks (NASDAQ:AVNW – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The communications equipment provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.56 by $0.11. Aviat Networks had a net margin of 6.55% and a return on equity of 15.65%. The firm had revenue of $74.52 million during the quarter, compared to analysts’ expectations of $71.33 million. During the same quarter last year, the business earned $0.49 earnings per share. As a group, sell-side analysts forecast that Aviat Networks will post 2.49 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd acquired a new position in Aviat Networks during the fourth quarter worth about $43,000. New Century Advisors LLC acquired a new position in shares of Aviat Networks in the fourth quarter valued at approximately $46,000. Citigroup Inc. raised its position in shares of Aviat Networks by 43.1% in the third quarter. Citigroup Inc. now owns 1,514 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 456 shares during the last quarter. Royal Bank of Canada raised its position in shares of Aviat Networks by 203.2% in the second quarter. Royal Bank of Canada now owns 2,016 shares of the communications equipment provider’s stock valued at $66,000 after buying an additional 1,351 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Aviat Networks by 138.2% in the third quarter. BNP Paribas Arbitrage SA now owns 3,571 shares of the communications equipment provider’s stock valued at $117,000 after buying an additional 2,072 shares during the last quarter. Institutional investors own 57.47% of the company’s stock.

About Aviat Networks (Get Rating)

Aviat Networks, Inc provides wireless transport solutions worldwide. It offers a comprehensive suite of products and localized professional and support services enabling customers to simplify their networks and lives. The company's products and solutions include wireless transmission systems for microwave and millimeter wave networking applications.

Further Reading

• Get a free copy of the StockNews.com research report on Aviat Networks (AVNW)
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