The stock of Avnet Inc. (NASDAQ:AVT) increased by $0.66 on Friday to finish at $49.48, up 1.35 percent. The last five days have seen an average of 736,340 shares of common stock traded. 19 times new highs were reached in the current year, with a gain of $7.90. The average number of shares traded over the last 20 days was 712,950, while the average volume over the last 50 days totaled 684,764.
AVT stock appreciated 2.95% since last month. On 08/16/23, the company’s shares reached a one-month low of $44.60. The stock touched a high of $51.00 on 06/30/23, after rallying from a low of $35.45 in 52 weeks. The price of AVT stock has risen by 19.00% or $7.90 this year, reaching a new high 19 times. Still, the stock price is down -2.98% from the 52-week high.
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Insider Transactions
AVT stock investors should be aware that Avnet Inc. (AVT) stock had its last reported insider trading activity 105 days ago on May 15. On May 15, Chief Executive Officer GALLAGHER PHILIP R sold 32,740 shares at $41.35 each. This transaction resulted in the insider making $1,353,799. On May 11, LAWRENCE JAMES A sold 72,851 shares at a price of US$41.69. After the transaction, the insider now owns 15,100 shares.
Valuation Metrics
Avnet Inc. (AVT) has a trailing price-to-earnings (P/E) ratio of 5.99. Beta for the stock is 1.35. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.17, the price-to-book (PB) ratio of 0.95.
Company paid $0.29 per share in dividends, remained unchanged from $0.29 last year. A $0.03 dividend increase was reported on Wednesday August 31 2022.
Financial Health
For the three months ended June 29, Avnet Inc.’s quick ratio was 1.20, while its current ratio was 2.50, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.63, and the total debt to equity ratio is 0.64. As far as profitability goes, gross margin for the trailing twelve months is 12.00% percent. Avnet Inc.’s operating margin stood at 4.60% for the same period. Based on annual data, it had gross profit of $3.18 billion and revenue of $26.54 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. AVT’s return on assets (ROA) during the last 12 months has been 6.50%. There was a 13.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 17.30%.
Earnings Surprise
According to Avnet Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $6.55 billion, while revenues rose by 20.56% to $6.51 billion. It was predicted that Avnet Inc.’s quarterly earnings would be $2.06, but it ended up being $1.65, beating the consensus by 24.80%. EBITDA was $321.67 million for the quarter. At the end of Avnet Inc.’s most recent quarter ended June 29, its liabilities totaled 7.73 billion, while its total debt was $3.3 billion. Equity owned by shareholders amounts to $91.49 million.
Technical Picture
Here’s a quick look at Avnet Inc.’s (AVT) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 65.35%, suggesting the stock is Neutral, with a 42.23% historical volatility rate.
The stochastic %K and %D were 87.03% and 85.36% respectively, while the average true range (ATR) was 1.20. Based on the 14-day stochastic reading of 89.71%, the RSI (14) reading is 61.08%. On the 9-day MACD Oscillator, the stock is at 1.14, and the 14-day reading is at 1.93.
Analyst Ratings
Avnet Inc. (NASDAQ: AVT) was downgraded by Wells Fargo to a an Underweight rating in its latest research report. The stock was previously rated as a an Equal weight. Analysts have assigned Avnet Inc. (AVT) an Underweight rating. AVT is a stock that is recommended for selling by 3 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is AVT’s price target for the next 12 months?
The current consensus forecast for the stock is between $40.00 and $57.00, with a median target price of $50.00. In analyzing these forecasts, the average price target given by analysts for Avnet Inc. (AVT) is $49.71.
