Aviat Networks (NASDAQ:AVNW) Releases Earnings Results, Beats Expectations By $0.57 EPS

Aviat Networks (NASDAQ:AVNW) issued its earnings results on Tuesday. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.57, Zacks reports. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%.

Aviat Networks Stock Performance

Shares of AVNW stock traded up $1.00 during trading hours on Tuesday, hitting $20.55. The stock had a trading volume of 466,112 shares, compared to its average volume of 159,529. The stock’s 50 day moving average is $17.94 and its 200 day moving average is $21.29. The firm has a market capitalization of $260.78 million, a PE ratio of -66.29 and a beta of 1.68. Aviat Networks has a twelve month low of $12.95 and a twelve month high of $38.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40.

Insider Activity at Aviat Networks

In other Aviat Networks news, CFO Michael Connaway bought 3,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $14.13 per share, with a total value of $49,455.00. Following the purchase, the chief financial officer now owns 57,893 shares in the company, valued at approximately $818,028.09. This represents a 6.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Pete A. Smith purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the completion of the purchase, the chief executive officer now owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. This represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 7,400 shares of company stock worth $106,110 in the last 90 days. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVNW. StockNews.com cut shares of Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. Roth Mkm reduced their target price on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Northland Securities decreased their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, Lake Street Capital lowered their target price on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aviat Networks currently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

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.