Aviat Networks (NASDAQ:AVNW) Downgraded by StockNews.com

StockNews.com cut shares of Aviat Networks (NASDAQ:AVNWFree Report) from a buy rating to a hold rating in a report issued on Thursday morning.

Separately, B. Riley decreased their target price on Aviat Networks from $59.00 to $55.00 and set a buy rating for the company in a report on Thursday, May 2nd.

Get Our Latest Research Report on Aviat Networks

Aviat Networks Trading Up 0.2 %

AVNW opened at $31.15 on Thursday. Aviat Networks has a 52 week low of $25.08 and a 52 week high of $38.85. The business has a fifty day simple moving average of $32.55 and a 200-day simple moving average of $32.81. The firm has a market cap of $391.24 million, a P/E ratio of 27.57 and a beta of 1.78. 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 (NASDAQ:AVNWGet Free Report) last released its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The company had revenue of $111.61 million during the quarter, compared to analysts’ expectations of $113.56 million. Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. During the same quarter last year, the business posted $0.61 earnings per share. On average, equities analysts expect that Aviat Networks will post 2.96 earnings per share for the current year.

Insider Activity at Aviat Networks

In other Aviat Networks news, CEO Pete A. Smith purchased 1,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $30.70 per share, for a total transaction of $30,700.00. Following the completion of the purchase, the chief executive officer now directly owns 242,199 shares in the company, valued at $7,435,509.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Aviat Networks

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in Aviat Networks in the third quarter valued at $31,000. Tower Research Capital LLC TRC raised its stake in Aviat Networks by 582.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock valued at $77,000 after buying an additional 2,005 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Aviat Networks by 84.8% in the first quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock valued at $210,000 after buying an additional 2,513 shares in the last quarter. Covestor Ltd increased its position in shares of Aviat Networks by 309.8% during the first quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock worth $228,000 after purchasing an additional 4,486 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Aviat Networks by 30.4% during the fourth quarter. SG Americas Securities LLC now owns 6,218 shares of the communications equipment provider’s stock worth $203,000 after purchasing an additional 1,450 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

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