Brean Capital Lowers Avnet Price Target to $47.00 (AVT)
Brean Capital decreased their price target on shares of Avnet (NYSE:AVT) from $50.00 to $47.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the stock. Brean Capital’s price target would suggest a potential upside of 10.51% from the stock’s previous close.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Avnet in a research note on Friday, June 20th. They now have a $46.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $46.88.
Avnet (NYSE:AVT) opened at 42.53 on Thursday. Avnet has a 1-year low of $38.02 and a 1-year high of $48.18. The stock has a 50-day moving average of $43.80 and a 200-day moving average of $43.55. The company has a market cap of $5.886 billion and a P/E ratio of 12.49.
Avnet (NYSE:AVT) last released its earnings data on Wednesday, August 6th. The company reported $1.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.10 by $0.04. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter last year, the company posted $0.98 earnings per share. Avnet’s revenue was up 6.9% compared to the same quarter last year. Analysts expect that Avnet will post $4.18 EPS for the current fiscal year.
Avnet, Inc, together with its subsidiaries, is a distributor of electronic components, enterprise computer and storage products, information technology (NYSE:AVT) services and embedded subsystems.
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