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Avnet (AVT) Gains As Market Dips: What You Should Know

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·3 min read
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In the latest trading session, Avnet (AVT) closed at $39.26, marking a +0.67% move from the previous day. This move outpaced the S&P 500's daily loss of 0.54%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, lost 2.41%.

Coming into today, shares of the distributor of electronic components had gained 5.12% in the past month. In that same time, the Computer and Technology sector lost 5.55%, while the S&P 500 lost 1.04%.

Investors will be hoping for strength from AVT as it approaches its next earnings release. In that report, analysts expect AVT to post earnings of $0.55 per share. This would mark year-over-year growth of 44.74%. Our most recent consensus estimate is calling for quarterly revenue of $4.5 billion, up 4.36% from the year-ago period.

AVT's full-year Zacks Consensus Estimates are calling for earnings of $2 per share and revenue of $18.49 billion. These results would represent year-over-year changes of +29.87% and +4.83%, respectively.

Investors should also note any recent changes to analyst estimates for AVT. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AVT currently has a Zacks Rank of #3 (Hold).

In terms of valuation, AVT is currently trading at a Forward P/E ratio of 19.52. This valuation marks a premium compared to its industry's average Forward P/E of 14.57.

Investors should also note that AVT has a PEG ratio of 1 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Parts Distribution industry currently had an average PEG ratio of 1 as of yesterday's close.

The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 116, putting it in the top 46% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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