Press coverage about Avnet (NYSE:AVT) has been trending somewhat positive on Wednesday, Accern reports. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Avnet earned a news impact score of 0.23 on Accern’s scale. Accern also gave news stories about the technology company an impact score of 46.2332513136651 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Avnet (NYSE:AVT) opened at $44.21 on Wednesday. The company has a market capitalization of $5,279.99, a P/E ratio of 12.25, a PEG ratio of 1.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.75 and a quick ratio of 1.56. Avnet has a one year low of $35.67 and a one year high of $46.61.
Avnet (NYSE:AVT) last released its earnings results on Thursday, January 25th. The technology company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Avnet had a return on equity of 7.87% and a net margin of 2.51%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. analysts expect that Avnet will post 3.47 earnings per share for the current year.
Several equities research analysts have weighed in on AVT shares. Zacks Investment Research cut Avnet from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. ValuEngine upgraded Avnet from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Longbow Research upgraded Avnet from a “neutral” rating to a “buy” rating in a report on Friday, January 19th. Goldman Sachs Group upgraded Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective for the company in a report on Friday, January 5th. Finally, Pivotal Research started coverage on Avnet in a report on Tuesday, February 13th. They issued a “hold” rating and a $44.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.13.
In other news, insider Philip R. Gallagher sold 14,292 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $42.00, for a total value of $600,264.00. Following the completion of the transaction, the insider now owns 22,178 shares in the company, valued at approximately $931,476. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin V. Summers sold 1,511 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $40.67, for a total value of $61,452.37. Following the completion of the transaction, the insider now owns 5,354 shares of the company’s stock, valued at approximately $217,747.18. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.
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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.
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