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

Aviat Networks (NASDAQ:AVNW) had its target price reduced by equities researchers at B. Riley from $59.00 to $55.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s price objective points to a potential upside of 92.71% from the stock’s current price.

AVNW has been the subject of a number of other research reports. JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a report on Monday, February 5th. StockNews.com raised shares of Aviat Networks from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.75.

Aviat Networks Price Performance

AVNW stock traded down $5.43 during trading on Thursday, hitting $28.54. The stock had a trading volume of 624,713 shares, compared to its average volume of 110,677. The stock has a market capitalization of $358.18 million, a P/E ratio of 22.44 and a beta of 1.78. The company’s 50-day moving average price is $35.12 and its two-hundred day moving average price is $32.33. Aviat Networks has a twelve month low of $21.15 and a twelve month high of $38.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.00 and a quick ratio of 1.63.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) 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 analysts’ expectations of $113.56 million. Aviat Networks had a net margin of 4.23% and a return on equity of 15.11%. During the same period in the previous year, the firm earned $0.61 EPS. As a group, research analysts predict that Aviat Networks will post 3.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Aviat Networks

Several hedge funds have recently modified their holdings of AVNW. SG Americas Securities LLC purchased a new position in shares of Aviat Networks during the 3rd quarter worth about $149,000. LSV Asset Management lifted its holdings 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 acquiring an additional 41,850 shares during the period. Quantbot Technologies LP purchased a new position in shares of Aviat Networks during the 3rd quarter worth about $31,000. First Eagle Investment Management LLC lifted its holdings in shares of Aviat Networks by 9.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock worth $6,214,000 after acquiring an additional 16,875 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in shares of Aviat Networks by 4.3% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 17,016 shares of the communications equipment provider’s stock worth $531,000 after acquiring an additional 709 shares during the period. 78.62% of the stock is owned by institutional investors and hedge funds.

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.