Headlines about Avnet (NYSE:AVT) have trended somewhat positive this week, according to Accern. The research group identifies negative and positive media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Avnet earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 44.8372185302884 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news articles that may have impacted Accern’s scoring:
- Honeywell International Inc. (HON) Stock Rating Reaffirmed by Credit Suisse Group (fumbleboard.com)
- Microsoft Corporation (NASDAQ:MSFT) Given Outperform Rating at Cowen and Company (healthcaremenu.net)
- Avnet : Honoured with 13 IP&E Supplier Awards in a Row (4-traders.com)
- Avnet : MILITARY $93,402 Federal Contract Awarded to Avnet (4-traders.com)
- Avnet, Inc. (AVT) Expected to Post Quarterly Sales of $4.45 Billion (americanbankingnews.com)
Shares of Avnet (NYSE:AVT) traded up 0.85% on Tuesday, hitting $39.34. The stock had a trading volume of 1,540,601 shares. Avnet has a 1-year low of $35.96 and a 1-year high of $51.50. The company has a market capitalization of $4.92 billion, a PE ratio of 9.45 and a beta of 1.04. The firm has a 50-day moving average of $38.83 and a 200 day moving average of $42.41.
Avnet (NYSE:AVT) last issued its quarterly earnings data on Thursday, April 27th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.46 billion. Avnet had a net margin of 2.83% and a return on equity of 9.24%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. On average, equities analysts anticipate that Avnet will post $3.18 earnings per share for the current fiscal year.
Several research firms have recently commented on AVT. Zacks Investment Research downgraded Avnet from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 2nd. BidaskClub raised Avnet from a “hold” rating to a “buy” rating in a research report on Monday, July 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $40.00 target price (down previously from $47.00) on shares of Avnet in a research report on Saturday, April 29th. SunTrust Banks, Inc. cut Avnet from a “buy” rating to a “hold” rating and cut their price target for the company from $53.00 to $39.00 in a research note on Friday, April 28th. Finally, Longbow Research cut Avnet from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.22.
COPYRIGHT VIOLATION WARNING: “Avnet (NYSE:AVT) Receiving Somewhat Favorable Media Coverage, Report Shows” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://stocknewstimes.com/2017/07/26/avnet-nyseavt-receiving-somewhat-favorable-media-coverage-report-shows.html.
In other news, CFO Kevin M. Moriarty acquired 6,933 shares of the stock in a transaction dated Thursday, May 18th. The stock was purchased at an average cost of $36.08 per share, with a total value of $250,142.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James A. Lawrence acquired 408,451 shares of the stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of $36.99 per share, with a total value of $15,108,602.49. Following the completion of the purchase, the director now owns 416,549 shares of the company’s stock, valued at approximately $15,408,147.51. The disclosure for this purchase can be found here. Corporate insiders own 1.47% of the company’s stock.
About Avnet
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
Receive News & Ratings for Avnet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
