Avnet Inc. (NASDAQ:AVT) shares traded 0.22% higher at $49.58 on Wall Street last session.
AVT stock price is now 6.34% away from the 50-day moving average and 4.16% away from the 200-day moving average. The market capitalization of the company currently stands at $4.48B.
With the price target reduced from $45 to $35, Wells Fargo Downgraded its rating from Equal Weight to Underweight for Avnet Inc. (NASDAQ: AVT). On July 14, 2022, JP Morgan recently initiated its ‘Underweight’ rating on the stock quoting a target price of $46, while ‘BofA Securities’ rates the stock as ‘Neutral’
In other news, Obregon-Jimenez Rebeca, SVP sold 2,210 shares of the company’s stock on Feb 22 ’24. The stock was sold for $101,748 at an average price of $46.04. Upon completion of the transaction, the SVP now directly owns 14,281 shares in the company, valued at $0.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 24 ’23, Director LAWRENCE JAMES A sold 8,190 shares of the business’s stock. A total of $387,387 was realized by selling the stock at an average price of $47.30. A total of 0.80% of the company’s stock is owned by insiders.
During the past 12 months, Avnet Inc. has had a low of $39.64 and a high of $51.65. As of last week, the company has a debt-to-equity ratio of 0.74, a current ratio of 2.34, and a quick ratio of 1.05. According to the stock market information, the enterprise value for the company is $7.89B, which is based on a 6.85 price-to-earnings ratio, a 0.66 price-to-earnings-growth ratio, and a beta of 1.25. The fifty day moving average price for AVT is $46.62 and a two-hundred day moving average price translates $47.60 for the stock.
The latest earnings results from Avnet Inc. (NASDAQ: AVT) was released for Dec, 2023. According to the Electronics & Computer Distribution Company, earnings per share came in at $1.4, inline with analysts’ expectations of $1.4. This compares to $2.63 EPS in the same period last year. The net profit margin was 2.62% and return on equity was 14.19% for AVT. The company reported revenue of $6.2 billion for the quarter, compared to $6.72 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.63 percent. For the current quarter, analysts expect AVT to generate $5.69B in revenue.
