As of Wednesday close, Avnet Inc.’s (NASDAQ:AVT) stock was down -$0.69, moving down -1.51 percent to $44.95. The average number of shares traded per day over the past five days has been 576,340 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.91 fall in that time frame. In the last twenty days, the average volume was 677,545, while in the previous 50 days, it was 610,258.
Since last month, AVT stock retreated -9.41%. Shares of the company fell to $44.60 on 08/16/23, the lowest level in the past month. A 52-week high of $51.00 was reached on 06/30/23 after having rallying from a 52-week low of $35.45. Since the beginning of this year, AVT’s stock price has risen by 8.10% or $3.37, and marked a new high 19 times. However, the stock has declined by -11.86% since its 52-week high.
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AVT stock investors should be aware that Avnet Inc. (AVT) stock had its last reported insider trading activity 94 days ago on May 15. GALLAGHER PHILIP R, the Chief Executive Officer of the company, disposed of 32,740 shares for $41.35 on May 15. It resulted in a $1,353,799 divestment by the insider. LAWRENCE JAMES A sold 72,851 shares at an average price of $41.69 on May 11. The insider now owns 15,100 shares following the transaction. On Aug 18, Chief Financial Officer Liguori Thomas sold 24,221 shares at $45.03 apiece. The transaction was valued at $1,090,623.
Valuation Metrics
Right now, Avnet Inc. (AVT) has a P/E ratio of about 4.94. The stock’s beta is 1.38. Besides these, the trailing price-to-sales (P/S) ratio of 0.16, the price-to-book (PB) ratio of 0.89.
The latest dividend of $0.29 per share was paid out, remained unchanged from last year’s $0.29. On Wednesday August 31 2022, a $0.03 dividend increase was announced.
Financial Health
In the three months ended March 30, Avnet Inc.’s quick ratio stood at 1.30, while its current ratio was 2.60, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.65, and the total debt-to-equity ratio was 0.67. On the profitability front, the trailing twelve-month gross margin is 11.90% percent. In the year ended March 30, EBITDA margin amounted to 4.63%, whereas operating margins totaled 4.70%. Based on annual data, AVT earned $2.97 billion in gross profit and brought in $24.31 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 13.70%. Return on equity (ROE) for the past 12 months was 20.00%.
In Avnet Inc.’s quarter-end financial report for March 30, it reported total debt of $3.03 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. AVT’s revenue rose 0.41% to $6.72 billion during the quarter, while net income inched up to $6.51 billion. While analysts expected Avnet Inc. to report $1.79 quarterly earnings, the actual figure was $2 per share, beating the consensus estimate by 11.70%. During the quarter, the company generated $348.51 million in EBITDA. The liabilities of Avnet Inc. were 7.47 billion at the end of its most recent quarter ended March 30, and its total debt was $3.35 billion. The value of shareholders’ equity is $91.4 million.
Technical Picture
This quick technical analysis looks at Avnet Inc.’s (AVT) price momentum. With a historical volatility rate of 11.29%, the RSI 9-day stood at 26.86% on 16 August.
With respect to its five-day moving average, the current Avnet Inc. price is down by -1.98% percent or -$0.91. At present, AVT shares trade -7.87% below its 20-day simple moving average and +4.56% percent above its 100-day simple moving average. However, the stock is currently trading approximately +3.05% above its SMA50 and +13.88% above its SMA200.
Stochastic coefficient K was 16.74% and Stochastic coefficient D was 20.10%, while ATR was 0.90. Given the Stochastic reading of 8.45% for the 14-day period, the RSI (14) reading has been calculated as 33.18%. As of today, the MACD Oscillator reading stands at -0.18, while the 14-day reading stands at -0.90.
Analyst Ratings
Avnet Inc. downgraded its rating on Avnet Inc. (NASDAQ: AVT) to an Underweight in a note to investors on September 16, 2022. The analysts firm previously had an Equal weight rating on the stock.Avnet Inc. (AVT) has been rated Hold by analysts. According to 2 brokerage firms, AVT is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Avnet Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $50.00, the current consensus forecast for the stock is $40.00 – $57.00. Based on these forecasts, analysts predict Avnet Inc. (AVT) will achieve an average price target of $50.00.
