B. Riley Cuts Aviat Networks (NASDAQ:AVNW) Price Target to $55.00

Aviat Networks (NASDAQ:AVNW) had its target price cut by analysts at B. Riley from $59.00 to $55.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s target price suggests a potential upside of 92.71% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price target on shares of Aviat Networks in a research report on Monday, February 5th. StockNews.com raised shares of Aviat Networks from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.75.

Aviat Networks Stock Down 16.0 %

Shares of Aviat Networks stock traded down $5.43 during trading on Thursday, hitting $28.54. 624,713 shares of the stock traded hands, compared to its average volume of 110,677. The stock has a market cap of $358.18 million, a P/E ratio of 22.44 and a beta of 1.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.63 and a current ratio of 2.00. Aviat Networks has a twelve month low of $21.15 and a twelve month high of $38.85. The company has a fifty day moving average price of $35.12 and a two-hundred day moving average price of $32.33.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). The company had revenue of $111.61 million for the quarter, compared to analyst estimates of $113.56 million. Aviat Networks had a return on equity of 15.11% and a net margin of 4.23%. During the same quarter in the prior year, the company earned $0.61 earnings per share. Equities research analysts predict that Aviat Networks will post 3.01 EPS for the current fiscal year.

Institutional Trading of Aviat Networks

A number of hedge funds and other institutional investors have recently modified their holdings of AVNW. SG Americas Securities LLC bought a new position in Aviat Networks in the third quarter valued at approximately $149,000. LSV Asset Management raised its stake in shares of Aviat Networks by 12.8% during the 3rd quarter. LSV Asset Management now owns 367,691 shares of the communications equipment provider’s stock worth $11,472,000 after purchasing an additional 41,850 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Aviat Networks in the 3rd quarter valued at approximately $31,000. First Eagle Investment Management LLC grew its stake in shares of Aviat Networks by 9.3% in the third quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock valued at $6,214,000 after buying an additional 16,875 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in Aviat Networks by 4.3% during the third quarter. Campbell & CO Investment Adviser LLC now owns 17,016 shares of the communications equipment provider’s stock worth $531,000 after buying an additional 709 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

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.