Brokerages Set $18.00 Price Target for AVX Co. (AVX)

Shares of AVX Co. (NYSE:AVX) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.

Brokerages have set a twelve-month consensus price target of $18.00 for the company and are expecting that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AVX an industry rank of 102 out of 256 based on the ratings given to its competitors.

Several equities research analysts recently issued reports on AVX shares. Zacks Investment Research lowered shares of AVX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. ValuEngine downgraded shares of AVX from a “buy” rating to a “hold” rating in a report on Thursday, September 27th.

A number of institutional investors and hedge funds have recently made changes to their positions in AVX. BlackRock Inc. raised its holdings in AVX by 24.3% in the 3rd quarter. BlackRock Inc. now owns 4,305,238 shares of the electronics maker’s stock worth $77,709,000 after acquiring an additional 842,559 shares during the period. Man Group plc increased its holdings in shares of AVX by 412.7% during the 3rd quarter. Man Group plc now owns 611,601 shares of the electronics maker’s stock worth $11,039,000 after purchasing an additional 492,310 shares during the period. Sensato Investors LLC increased its holdings in shares of AVX by 155.4% during the 3rd quarter. Sensato Investors LLC now owns 782,481 shares of the electronics maker’s stock worth $14,124,000 after purchasing an additional 476,139 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of AVX by 383.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 543,747 shares of the electronics maker’s stock worth $9,815,000 after purchasing an additional 431,256 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of AVX during the 3rd quarter worth about $7,754,000. Hedge funds and other institutional investors own 25.11% of the company’s stock.

AVX stock opened at $15.91 on Friday. AVX has a 1 year low of $14.21 and a 1 year high of $21.48. The firm has a market capitalization of $2.64 billion, a P/E ratio of 19.89 and a beta of 1.04.

AVX (NYSE:AVX) last released its quarterly earnings data on Wednesday, October 24th. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.10. AVX had a net margin of 3.73% and a return on equity of 8.77%. The business had revenue of $456.33 million during the quarter, compared to analyst estimates of $462.00 million. During the same quarter in the previous year, the business earned $0.21 EPS. AVX’s quarterly revenue was up 29.4% compared to the same quarter last year. Research analysts forecast that AVX will post 1.44 earnings per share for the current year.

AVX Company Profile

AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale.

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