Aviat Networks (NASDAQ:AVNW) Receives Buy Rating from B. Riley Securities

B. Riley Securities restated their buy rating on shares of Aviat Networks (NASDAQ:AVNW) in a research note published on Wednesday morning,Benzinga reports. They currently have a $36.00 target price on the communications equipment provider’s stock, up from their prior target price of $35.00.

Several other research firms have also recently commented on AVNW. Citizens Jmp restated a “market outperform” rating and set a $30.00 price target on shares of Aviat Networks in a report on Wednesday. Zacks Research upgraded shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Lake Street Capital restated a “buy” rating and set a $34.00 price target on shares of Aviat Networks in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Finally, B. Riley Financial reissued a “buy” rating and set a $36.00 price objective (up previously from $35.00) on shares of Aviat Networks in a research report on Wednesday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

Aviat Networks Stock Up 2.2%

Shares of AVNW traded up $0.58 during mid-day trading on Wednesday, reaching $26.36. The company’s stock had a trading volume of 192,568 shares, compared to its average volume of 127,794. The company has a market cap of $338.38 million, a price-to-earnings ratio of 23.54 and a beta of 0.96. The business has a fifty day moving average of $21.67 and a 200 day moving average of $22.40. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. Aviat Networks has a 1 year low of $15.80 and a 1 year high of $27.02.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%.The firm had revenue of $111.47 million for the quarter, compared to analyst estimates of $109.67 million. As a group, analysts forecast that Aviat Networks will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at Aviat Networks

In other news, CEO Pete A. Smith sold 5,350 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total transaction of $125,136.50. Following the completion of the sale, the chief executive officer owned 349,447 shares in the company, valued at approximately $8,173,565.33. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce M. Taten sold 3,268 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total value of $76,438.52. Following the completion of the transaction, the director directly owned 20,391 shares in the company, valued at $476,945.49. The trade was a 13.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Aviat Networks during the 2nd quarter worth $28,000. Quarry LP bought a new stake in Aviat Networks during the 3rd quarter valued at approximately $27,000. BNP Paribas Financial Markets grew its holdings in Aviat Networks by 96.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 1,120 shares during the last quarter. Comerica Bank increased its position in Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 780 shares during the period. Finally, State of Wyoming bought a new position in Aviat Networks in the 3rd quarter worth approximately $63,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

About Aviat Networks

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.