Aviat Networks (NASDAQ:AVNW) Upgraded to Strong-Buy at Craig Hallum

Aviat Networks (NASDAQ:AVNW) was upgraded by research analysts at Craig Hallum to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Citizens Jmp cut their price target on shares of Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Weiss Ratings lowered Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered Aviat Networks from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Lake Street Capital set a $31.00 target price on shares of Aviat Networks and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Zacks Research cut shares of Aviat Networks from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

Aviat Networks Price Performance

NASDAQ:AVNW opened at $22.46 on Tuesday. Aviat Networks has a 52 week low of $13.92 and a 52 week high of $27.02. The company has a quick ratio of 1.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $290.63 million, a PE ratio of 32.55 and a beta of 0.70. The stock’s 50-day moving average price is $18.96 and its 200-day moving average price is $21.63.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings results on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%.The business had revenue of $100.00 million during the quarter, compared to analyst estimates of $106.39 million. As a group, equities analysts expect that Aviat Networks will post 1.14 EPS for the current fiscal year.

Institutional Trading of Aviat Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 780 shares during the period. Royal Bank of Canada grew its holdings in shares of Aviat Networks by 290.7% in the first quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider’s stock valued at $783,000 after purchasing an additional 30,413 shares in the last quarter. AQR Capital Management LLC increased its stake in Aviat Networks by 20.6% during the 1st quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider’s stock worth $1,629,000 after buying an additional 14,498 shares during the period. Jane Street Group LLC increased its stake in Aviat Networks by 6.9% during the 1st quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider’s stock worth $500,000 after buying an additional 1,683 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Aviat Networks by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock worth $441,000 after buying an additional 1,148 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.