StockNews.com Upgrades Aviat Networks (NASDAQ:AVNW) to “Buy”

Aviat Networks (NASDAQ:AVNW) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Separately, B. Riley cut their price objective on Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd.

Aviat Networks Trading Down 2.1 %

Shares of NASDAQ:AVNW opened at $29.39 on Friday. The business’s 50-day moving average is $31.75 and its 200 day moving average is $32.79. Aviat Networks has a 1 year low of $25.08 and a 1 year high of $38.85. The firm has a market capitalization of $369.14 million, a P/E ratio of 26.01 and a beta of 1.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.79.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. During the same period in the prior year, the company posted $0.61 earnings per share. On average, research analysts predict that Aviat Networks will post 2.96 earnings per share for the current fiscal year.

Insider Transactions at Aviat Networks

In related news, CEO Pete A. Smith bought 1,000 shares of the stock in a transaction dated Monday, May 6th. The shares were purchased at an average price 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 of the company’s stock, valued at $7,435,509.30. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds have recently bought and sold shares of the business. Delphi Management Inc. MA boosted its position in Aviat Networks by 6.5% during the first quarter. Delphi Management Inc. MA now owns 21,451 shares of the communications equipment provider’s stock worth $822,000 after purchasing an additional 1,305 shares in the last quarter. Ancora Advisors LLC boosted its position in Aviat Networks by 21.0% during the first quarter. Ancora Advisors LLC now owns 48,553 shares of the communications equipment provider’s stock worth $1,862,000 after purchasing an additional 8,425 shares in the last quarter. Aristides Capital LLC boosted its position in Aviat Networks by 12.2% during the first quarter. Aristides Capital LLC now owns 137,472 shares of the communications equipment provider’s stock worth $5,271,000 after purchasing an additional 15,000 shares in the last quarter. Truvestments Capital LLC boosted its position in Aviat Networks by 26.2% during the first quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock worth $408,000 after purchasing an additional 2,213 shares in the last quarter. Finally, Covestor Ltd boosted its position in 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. Hedge funds and other institutional investors 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.