Aviat Networks (NASDAQ:AVNW) Rating Lowered to Strong Sell at Zacks Investment Research

Aviat Networks (NASDAQ:AVNW) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday, 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. “

A number of other brokerages have also recently commented on AVNW. ValuEngine cut Aviat Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Northland Securities began coverage on Aviat Networks in a report on Wednesday, December 4th. They set an “outperform” rating and a $20.00 price objective on the stock.

Shares of NASDAQ:AVNW opened at $13.52 on Wednesday. The business’s fifty day moving average price is $14.08 and its two-hundred day moving average price is $13.90. The stock has a market cap of $73.51 million, a PE ratio of 11.56 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.24 and a current ratio of 1.39. Aviat Networks has a one year low of $12.35 and a one year high of $16.53.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Thursday, February 6th. The communications equipment provider reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.31). The company had revenue of $56.00 million for the quarter. Aviat Networks had a net margin of 2.82% and a return on equity of 4.05%. As a group, equities research analysts predict that Aviat Networks will post 1.02 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Aviat Networks stock. Acadian Asset Management LLC lifted its holdings in shares of Aviat Networks Inc (NASDAQ:AVNW) by 139.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,595 shares of the communications equipment provider’s stock after purchasing an additional 12,004 shares during the quarter. Acadian Asset Management LLC owned about 0.38% of Aviat Networks worth $289,000 as of its most recent SEC filing. Institutional investors and hedge funds own 49.07% of the company’s stock.

Aviat Networks Company Profile

Aviat Networks, Inc designs, manufactures, and sells a range of wireless networking products, solutions, and services worldwide. Its products include broadband wireless access base stations and customer premises equipment for fixed and mobile networks; and point-to-point digital microwave radio systems for access, backhaul, trunking, and license-exempt applications, as well as supporting new network deployments, network expansion, and capacity upgrades.

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