Avnet (AVT) Rating Lowered to Sell at Goldman Sachs

Avnet (NYSE:AVT) was downgraded by equities research analysts at Goldman Sachs from a “neutral” rating to a “sell” rating in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $34.00 price target on the technology company’s stock. Goldman Sachs’ price objective would suggest a potential downside of 13.22% from the company’s previous close.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Avnet from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Thursday, April 12th. Longbow Research upgraded Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. TheStreet lowered Avnet from a “b” rating to a “c+” rating in a research note on Wednesday, May 2nd. ValuEngine lowered Avnet from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Finally, Pivotal Research initiated coverage on Avnet in a research note on Tuesday, February 13th. They issued a “hold” rating and a $44.00 price objective on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.71.

NYSE:AVT opened at $39.18 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.58 and a current ratio of 2.75. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.08 and a beta of 0.99. Avnet has a 12-month low of $38.48 and a 12-month high of $39.52.

Avnet (NYSE:AVT) last released its quarterly earnings data on Thursday, April 26th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.83 billion. Avnet had a positive return on equity of 8.08% and a negative net margin of 0.72%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. equities research analysts predict that Avnet will post 3.52 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in AVT. Penserra Capital Management LLC bought a new position in shares of Avnet during the first quarter worth approximately $103,000. Balter Liquid Alternatives LLC bought a new position in shares of Avnet during the fourth quarter worth approximately $136,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Avnet during the fourth quarter worth approximately $170,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Avnet by 136.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,633 shares of the technology company’s stock worth $184,000 after purchasing an additional 2,677 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Avnet by 135.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,977 shares of the technology company’s stock worth $198,000 after purchasing an additional 2,859 shares during the period. Institutional investors own 96.44% of the company’s stock.

Avnet Company Profile

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

Analyst Recommendations for Avnet (NYSE:AVT)

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit