Aviat Networks (NASDAQ:AVNW – Get Free Report) had its price objective cut by investment analysts at Roth Mkm from $43.00 to $39.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. Roth Mkm’s target price indicates a potential upside of 181.39% from the company’s previous close.
Several other brokerages also recently weighed in on AVNW. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a research note on Tuesday, October 8th. Lake Street Capital lowered their target price on Aviat Networks from $51.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Northland Securities cut their price target on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. StockNews.com lowered shares of Aviat Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, B. Riley cut their price objective on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Aviat Networks presently has a consensus rating of “Moderate Buy” and an average price target of $38.60.
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Aviat Networks Price Performance
Aviat Networks (NASDAQ:AVNW – Get Free Report) last announced its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. The business 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, research analysts forecast that Aviat Networks will post 2.08 earnings per share for the current year.
Hedge Funds Weigh In On Aviat Networks
Large investors have recently made changes to their positions in the stock. Anchor Capital Advisors LLC purchased a new stake in Aviat Networks during the first quarter worth about $1,330,000. Assenagon Asset Management S.A. purchased a new stake in shares of Aviat Networks during the 3rd quarter worth approximately $589,000. Select Equity Group L.P. grew its holdings in shares of Aviat Networks by 8.7% in the 2nd quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after acquiring an additional 30,582 shares during the period. Vanguard Group Inc. increased its stake in Aviat Networks by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock valued at $21,166,000 after purchasing an additional 11,662 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its holdings in Aviat Networks by 80.8% during the second quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock worth $10,487,000 after purchasing an additional 163,365 shares during 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.
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