Avnet Inc. (NYSE:AVT) has been given a $43.00 target price by equities research analysts at Credit Agricole SA in a research report issued on Tuesday. The firm currently has a a “sell” rating on the stock. Credit Agricole SA’s price target suggests a potential upside of 5.16% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Cross Research downgraded shares of Avnet from a “hold” rating to a “sell” rating in a research note on Tuesday. Stifel Nicolaus downgraded shares of Avnet from a “buy” rating to a “hold” rating and decreased their price target for the company from $47.00 to $44.00 in a research note on Tuesday. Brean Capital reaffirmed a “hold” rating on shares of Avnet in a research note on Thursday, August 11th. Citigroup Inc. upped their price target on shares of Avnet from $31.00 to $37.00 and gave the company a “sell” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research downgraded shares of Avnet from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Avnet presently has a consensus rating of “Hold” and an average price target of $43.13.

Analyst Recommendations for Avnet (NYSE:AVT)

Avnet (NYSE:AVT) opened at 40.89 on Tuesday. Avnet has a 12 month low of $37.10 and a 12 month high of $46.95. The stock has a market capitalization of $5.21 billion, a PE ratio of 10.76 and a beta of 1.16. The company’s 50-day moving average is $41.08 and its 200-day moving average is $41.57.

Avnet (NYSE:AVT) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.02. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.21 billion. Avnet had a net margin of 1.93% and a return on equity of 11.99%. Avnet’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 EPS. Equities research analysts forecast that Avnet will post $4.25 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Wednesday, September 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Friday, September 2nd. Avnet’s payout ratio is presently 17.85%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Societe Generale bought a new position in Avnet during the second quarter worth approximately $1,934,000. UBS Group AG boosted its position in Avnet by 11.0% in the first quarter. UBS Group AG now owns 45,747 shares of the company’s stock worth $2,026,000 after buying an additional 4,536 shares during the last quarter. Legal & General Group Plc boosted its position in Avnet by 1.1% in the first quarter. Legal & General Group Plc now owns 723,322 shares of the company’s stock worth $32,042,000 after buying an additional 8,208 shares during the last quarter. Brandes Investment Partners LP boosted its position in Avnet by 11.7% in the second quarter. Brandes Investment Partners LP now owns 408,043 shares of the company’s stock worth $16,529,000 after buying an additional 42,806 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Avnet by 60.3% in the first quarter. JPMorgan Chase & Co. now owns 744,226 shares of the company’s stock worth $32,970,000 after buying an additional 280,086 shares during the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

About Avnet

Avnet, Inc distributes electronic components, enterprise computer and storage products, information technology solutions and services, and embedded subsystems. The Company operates in two segments: Electronics Marketing (EM) and Technology Solutions (TS). Both operating groups have operations in each of the three economic regions of the world: the Americas; Europe, the Middle East and Africa; and Asia/Pacific, consisting of Asia, Australia and New Zealand.

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