Zacks Investment Research Upgrades AVX Corporation (AVX) to “Strong-Buy”
AVX Corporation (NYSE:AVX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The brokerage currently has a $22.00 price target on the electronics maker’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.52% from the company’s current price.
According to Zacks, “AVX Corporation is a leading worldwide manufacturer and supplier of a broad line of passive electronic components and related products. The company’s passive electronic component sales include ceramic and tantalum capacitors, both in leaded and surface-mount versions, film capacitors, ferrites, varistors and non-linear resistors manufactured in the company’s facilities. The company also manufactures and sells electronic connectors and distributes and sells certain connectors. “
A number of other research analysts have also weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $17.00 price objective on shares of AVX Corporation in a research report on Friday, July 28th. BidaskClub upgraded AVX Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.
Shares of AVX Corporation (AVX) remained flat at $19.21 during midday trading on Friday. The stock had a trading volume of 309,694 shares. The stock has a market cap of $3.23 billion, a P/E ratio of 25.28 and a beta of 0.84. AVX Corporation has a 52-week low of $13.66 and a 52-week high of $19.39. The firm has a 50 day moving average of $17.52 and a 200-day moving average of $16.92.
AVX Corporation (NYSE:AVX) last issued its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.19 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.19. The firm had revenue of $331.35 million during the quarter, compared to analyst estimates of $328.00 million. AVX Corporation had a return on equity of 5.69% and a net margin of 9.46%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. Equities research analysts expect that AVX Corporation will post $0.78 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of AVX. Sei Investments Co. purchased a new position in shares of AVX Corporation during the first quarter valued at about $245,000. Oxford Asset Management purchased a new position in shares of AVX Corporation during the first quarter valued at about $322,000. Wellington Management Group LLP grew its position in shares of AVX Corporation by 30.1% during the first quarter. Wellington Management Group LLP now owns 36,871 shares of the electronics maker’s stock valued at $604,000 after purchasing an additional 8,523 shares in the last quarter. FMR LLC purchased a new position in shares of AVX Corporation during the first quarter valued at about $725,000. Finally, Van ECK Associates Corp purchased a new position in shares of AVX Corporation during the first quarter valued at about $749,000. Hedge funds and other institutional investors own 24.44% of the company’s stock.
About AVX Corporation
AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
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