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Avnet (AVT) Falls: Stock Goes Down 6.7%

Zacks Equity Research

Avnet, Inc. (AVT) saw a big move last session, as the company’s shares fell nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $44.61 to $47.50 in the past one-month time frame.
The electronic products company has seen a flat record when it comes to current year estimate revisions over the past few weeks (0 increases, 0 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
AVT currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Advanced Energy Industries, Inc. (AEIS), Bitauto Holdings Limited (BITA) and ChyronHego Corp. (CHYR). All these stocks hold a Zacks Rank #1 (Strong Buy).
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AVNET INC (AVT): Free Stock Analysis Report

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