Avnet Inc. [NASDAQ: AVT] price plunged by -6.31 percent to reach at -$2.93. The company report on August 10, 2022 that Avnet Reports Fourth Quarter and Fiscal 2022 Financial Results.
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Fourth quarter sales of $6.4 billion and operating income margin of 4.5%.
Fiscal 2022 sales of $24.3 billion and record diluted EPS of $6.94.
A sum of 2712733 shares traded at recent session while its average daily volume was at 847.30K shares. Avnet Inc. shares reached a high of $45.11 and dropped to a low of $42.93 until finishing in the latest session at $43.50.
The one-year AVT stock forecast points to a potential upside of 13.0. The average equity rating for AVT stock is currently 2.80, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Avnet Inc. [AVT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVT shares is $50.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVT stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Avnet Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 14, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $49 to $43. The new note on the price target was released on October 07, 2021, representing the official price target for Avnet Inc. stock. Previously, the target price had yet another raise from $39 to $53, while Loop Capital kept a Buy rating on AVT stock.
The Average True Range (ATR) for Avnet Inc. is set at 1.36, with the Price to Sales ratio for AVT stock in the period of the last 12 months amounting to 0.19. The Price to Book ratio for the last quarter was 1.01, with the Price to Cash per share for the same quarter was set at 2.01.
AVT Stock Performance Analysis:
Avnet Inc. [AVT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.21. With this latest performance, AVT shares dropped by -1.18% in over the last four-week period, additionally plugging by 5.81% over the last 6 months – not to mention a rise of 3.15% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVT stock in for the last two-week period is set at 40.12, with the RSI for the last a single of trading hit 33.91, and the three-weeks RSI is set at 43.79 for Avnet Inc. [AVT]. The present Moving Average for the last 50 days of trading for this stock 44.99, while it was recorded at 45.75 for the last single week of trading, and 41.99 for the last 200 days.
Insight into Avnet Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Avnet Inc. [AVT] shares currently have an operating margin of +1.87 and a Gross Margin at +11.47. Avnet Inc.’s Net Margin is presently recorded at +0.99.
Return on Total Capital for AVT is now 6.62, given the latest momentum, and Return on Invested Capital for the company is 3.54. Return on Equity for this stock inclined to 4.94, with Return on Assets sitting at 2.26. When it comes to the capital structure of this company, Avnet Inc. [AVT] has a Total Debt to Total Equity ratio set at 37.04. Additionally, AVT Total Debt to Total Capital is recorded at 27.03, with Total Debt to Total Assets ending up at 16.95. Long-Term Debt to Equity for the company is recorded at 35.04, with the Long-Term Debt to Total Capital now at 25.57.
Reflecting on the efficiency of the workforce at the company, Avnet Inc. [AVT] managed to generate an average of $13,318 per employee. Receivables Turnover for the company is 6.01 with a Total Asset Turnover recorded at a value of 2.29.Avnet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 2.00.
AVT Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Avnet Inc. go to 10.40%.
Avnet Inc. [AVT] Insider Position Details
There are presently around $4,027 million, or 97.90% of AVT stock, in the hands of institutional investors. The top three institutional holders of AVT stocks are: VANGUARD GROUP INC with ownership of 10,812,840, which is approximately 0.461% of the company’s market cap and around 0.10% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 10,740,660 shares of the stock with an approximate value of $467.22 million in AVT stocks shares; and BLACKROCK INC., currently with $408.64 million in AVT stock with ownership of nearly -1.65% of the company’s market capitalization.
Positions in Avnet Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 177 institutional holders increased their position in Avnet Inc. [NASDAQ:AVT] by around 6,032,740 shares. Additionally, 159 investors decreased positions by around 7,971,327 shares, while 47 investors held positions by with 78,577,796 shares. The mentioned changes placed institutional holdings at 92,581,863 shares, according to the latest SEC report filing. AVT stock had 61 new institutional investments in for a total of 1,782,964 shares, while 39 institutional investors sold positions of 1,053,591 shares during the same period.