Aviat Networks (NASDAQ:AVNW) Receives Buy Rating from Lake Street Capital

Lake Street Capital reaffirmed their buy rating on shares of Aviat Networks (NASDAQ:AVNW) in a research report report published on Friday, Benzinga reports. They currently have a $51.00 target price on the communications equipment provider’s stock.

AVNW has been the topic of a number of other research reports. StockNews.com upgraded shares of Aviat Networks from a hold rating to a buy rating in a report on Friday, June 14th. B. Riley decreased their price target on shares of Aviat Networks from $59.00 to $55.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Aviat Networks presently has a consensus rating of Buy and a consensus target price of $53.75.

Aviat Networks Stock Up 0.9 %

AVNW stock opened at $27.59 on Friday. The stock has a market capitalization of $346.53 million, a P/E ratio of 24.42 and a beta of 1.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.79 and a current ratio of 2.12. Aviat Networks has a one year low of $25.08 and a one year high of $38.85. The company has a 50 day moving average price of $30.09 and a two-hundred day moving average price of $32.43.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm had revenue of $111.61 million during the quarter, compared to analysts’ expectations of $113.56 million. Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, sell-side analysts expect that Aviat Networks will post 2.84 EPS for the current year.

Insider Buying and Selling at Aviat Networks

In other Aviat Networks news, CEO Pete A. Smith bought 1,000 shares of Aviat Networks stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $30.70 per share, for a total transaction of $30,700.00. Following the acquisition, the chief executive officer now owns 242,199 shares of the company’s stock, valued at approximately $7,435,509.30. The acquisition was disclosed in a filing with the SEC, which is available at this link. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in shares of Aviat Networks by 582.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock valued at $77,000 after acquiring an additional 2,005 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Aviat Networks by 30.4% in the 4th quarter. SG Americas Securities LLC now owns 6,218 shares of the communications equipment provider’s stock worth $203,000 after buying an additional 1,450 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Aviat Networks by 84.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after buying an additional 2,513 shares in the last quarter. Covestor Ltd lifted its holdings in Aviat Networks by 309.8% in the 1st quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock worth $228,000 after buying an additional 4,486 shares in the last quarter. Finally, Bailard Inc. acquired a new position in Aviat Networks in the 4th quarter worth $255,000. 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.