Zacks: Brokerages Set $17.00 Target Price for AVX Co. (AVX)
AVX Co. (NYSE:AVX) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Brokers have set a 1 year consensus price objective of $17.00 for the company and are anticipating that the company will post $0.18 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AVX an industry rank of 99 out of 265 based on the ratings given to related companies.
AVX has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded AVX from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. ValuEngine upgraded AVX from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 price objective on shares of AVX in a report on Tuesday, October 17th.
AVX (NYSE:AVX) last released its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. AVX had a return on equity of 6.08% and a net margin of 10.02%. The business had revenue of $352.70 million for the quarter, compared to the consensus estimate of $348.30 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts forecast that AVX will post 0.74 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC boosted its position in shares of AVX by 6.2% in the 3rd quarter. Aperio Group LLC now owns 52,966 shares of the electronics maker’s stock valued at $966,000 after purchasing an additional 3,075 shares during the period. SG Americas Securities LLC acquired a new stake in shares of AVX in the 3rd quarter valued at about $226,000. Finally, Martingale Asset Management L P boosted its position in shares of AVX by 0.4% in the 2nd quarter. Martingale Asset Management L P now owns 185,217 shares of the electronics maker’s stock valued at $3,027,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 24.70% of the company’s stock.
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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