Avnet, Inc. (AVT) Receives Average Recommendation of “Hold” from Analysts
Avnet, Inc. (NYSE:AVT) has earned an average recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $40.29.
Several research firms recently weighed in on AVT. ValuEngine upgraded Avnet from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet downgraded Avnet from a “b” rating to a “c” rating in a research report on Thursday, October 26th. Cross Research upgraded Avnet from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Citigroup increased their target price on Avnet from $31.00 to $34.00 and gave the stock a “sell” rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus increased their target price on Avnet from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th.
In other news, CEO Amelio J. William acquired 3,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were bought at an average cost of $39.16 per share, for a total transaction of $117,480.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.65% of the company’s stock.
Shares of Avnet (NYSE AVT) traded down $0.05 during trading hours on Thursday, hitting $39.58. The stock had a trading volume of 736,900 shares, compared to its average volume of 1,099,950. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.78 and a quick ratio of 1.63. Avnet has a twelve month low of $35.67 and a twelve month high of $49.19. The stock has a market capitalization of $4,792.35, a P/E ratio of 12.19, a P/E/G ratio of 1.30 and a beta of 1.09.
Avnet (NYSE:AVT) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.05. Avnet had a return on equity of 8.20% and a net margin of 2.86%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the business earned $0.91 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. sell-side analysts forecast that Avnet will post 3.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Wednesday, December 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.82%. Avnet’s dividend payout ratio (DPR) is 17.96%.
Avnet declared that its board has approved a share repurchase program on Friday, November 10th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
ILLEGAL ACTIVITY WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/14/avnet-inc-avt-receives-average-recommendation-of-hold-from-analysts.html.
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
Receive News & Ratings for Avnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet and related companies with MarketBeat.com's FREE daily email newsletter.