Posted by admin on May 12th, 2022
Zacks Investment Research downgraded shares of Aviat Networks (NASDAQ:AVNW – Get Rating) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.
According to Zacks, “Aviat Networks, Inc., previously known as Harris Stratex Networks, Inc., is a global supplier of wireless network solutions and network management software, backed by a suite of professional services and support. The Company offers advanced wireless IP network migration, preparing the way to the 4G/LTE future. It also offers transformational wireless solutions, including LTE-ready microwave backhaul, WiMAX access and a complete portfolio of essential service options that enable wireless public and private telecommunications operators to deliver advanced data, voice, video and mobility services around the world. In addition, Aviat offers professional services, including installation and commissioning and training. It serves mobile and fixed telephone service providers, private network operators, government agencies, transportation and utility companies, public safety agencies, and broadcast system operators. Aviat Networks, Inc. is headquartered in Morrisville, North Carolina. “
AVNW has been the subject of several other research reports. B. Riley increased their target price on shares of Aviat Networks from $50.50 to $55.00 in a research note on Thursday, February 3rd. StockNews.com upgraded Aviat Networks from a hold rating to a buy rating in a research note on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $46.75.
NASDAQ AVNW opened at $27.25 on Wednesday. The company has a fifty day moving average of $29.71 and a two-hundred day moving average of $30.11. Aviat Networks has a 1 year low of $24.26 and a 1 year high of $42.81. The company has a market capitalization of $304.30 million, a PE ratio of 16.72 and a beta of 1.79.
Aviat Networks (NASDAQ:AVNW – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The communications equipment provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. Aviat Networks had a return on equity of 15.65% and a net margin of 6.55%. During the same period in the previous year, the company earned $0.49 earnings per share. As a group, sell-side analysts anticipate that Aviat Networks will post 2.48 earnings per share for the current year.
In other Aviat Networks news, CEO Pete A. Smith acquired 2,000 shares of the business’s stock in a transaction on Thursday, February 24th. The stock was purchased at an average price of $25.85 per share, for a total transaction of $51,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. acquired a new stake in shares of Aviat Networks in the 3rd quarter worth approximately $28,000. Covestor Ltd purchased a new position in shares of Aviat Networks in the fourth quarter valued at $43,000. New Century Advisors LLC acquired a new position in shares of Aviat Networks during the 4th quarter worth $46,000. Citigroup Inc. grew its stake in Aviat Networks by 43.1% in the 3rd quarter. Citigroup Inc. now owns 1,514 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 456 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Aviat Networks by 203.2% during the 2nd quarter. Royal Bank of Canada now owns 2,016 shares of the communications equipment provider’s stock valued at $66,000 after acquiring an additional 1,351 shares in the last quarter. 57.47% of the stock is owned by institutional investors.
About Aviat Networks (Get Rating)
Aviat Networks, Inc provides wireless transport solutions worldwide. It offers a comprehensive suite of products and localized professional and support services enabling customers to simplify their networks and lives. The company's products and solutions include wireless transmission systems for microwave and millimeter wave networking applications.
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