Aviat Networks (NASDAQ:AVNW) Downgraded to Sell Rating by StockNews.com

Aviat Networks (NASDAQ:AVNW) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other research firms also recently issued reports on AVNW. Lake Street Capital lowered their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday. B. Riley lowered their price objective on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 13th. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. Northland Securities lowered their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, Roth Mkm lowered their price objective on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.60.

Aviat Networks Stock Up 1.2 %

AVNW stock traded up $0.16 during mid-day trading on Thursday, hitting $13.86. 599,953 shares of the company were exchanged, compared to its average volume of 118,103. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.57 and a current ratio of 1.85. The firm has a market cap of $175.69 million, a P/E ratio of -44.71 and a beta of 1.81. The firm’s 50 day simple moving average is $22.37 and its 200 day simple moving average is $27.08. Aviat Networks has a 1-year low of $12.95 and a 1-year high of $38.85.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. The firm had revenue of $116.66 million for the quarter. Aviat Networks had a net margin of 2.89% and a return on equity of 13.47%. On average, sell-side analysts predict that Aviat Networks will post 2.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Aviat Networks in the second quarter valued at $29,000. NBC Securities Inc. bought a new position in Aviat Networks during the third quarter worth $62,000. BNP Paribas Financial Markets boosted its position in Aviat Networks by 84.8% during the first quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after purchasing an additional 2,513 shares during the period. Covestor Ltd increased its holdings in shares of Aviat Networks by 309.8% in the first quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock valued at $228,000 after purchasing an additional 4,486 shares during the last quarter. Finally, Truvestments Capital LLC increased its holdings in shares of Aviat Networks by 26.2% in the first quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 2,213 shares during the last quarter. 78.62% of the stock is owned by institutional investors.

Aviat Networks Company Profile

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.