Zacks Research Issues Optimistic Outlook for Avnet Earnings

Key Points

• Zacks Research raised its Q4 2027 EPS estimate for Avnet to $2.03, up from $1.83, and maintained a “Strong Buy” rating. Its FY2029 estimate is $10.15 per share.
• Avnet’s latest quarterly results exceeded expectations, with EPS of $2.28 versus the $1.80 consensus and revenue of $8.30 billion versus $7.56 billion; revenue grew 47.7% year over year.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $93.25 price target, although CEO Philip Gallagher recently sold 51,900 shares at an average price of $98.46.

Avnet, Inc. (NASDAQ:AVT - Free Report) - Research analysts at Zacks Research upped their Q4 2027 earnings per share (EPS) estimates for Avnet in a report issued on Wednesday, August 19th. Zacks Research analyst Team now anticipates that the company will post earnings of $2.03 per share for the quarter, up from their prior forecast of $1.83. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Avnet's current full-year earnings is $9.66 per share. Zacks Research also issued estimates for Avnet's FY2029 earnings at $10.15 EPS.

Avnet (NASDAQ:AVT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.80 by $0.48. The firm had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The company's revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS.

Several other research firms have also recently commented on AVT. Bank of America raised Avnet from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Truist Financial lifted their price target on shares of Avnet from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Avnet from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Wells Fargo & Company increased their target price on Avnet from $70.00 to $72.00 and gave the stock an "underweight" rating in a report on Monday, July 20th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $95.00 price objective on shares of Avnet in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Avnet currently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

Avnet Price Performance

NASDAQ:AVT opened at $88.34 on Thursday. The firm has a market cap of $7.25 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 0.31 and a beta of 1.09. Avnet has a 12 month low of $44.25 and a 12 month high of $100.00. The company's 50-day moving average price is $89.43 and its two-hundred day moving average price is $78.02. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49.

Institutional Trading of Avnet

A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in shares of Avnet by 3.0% during the first quarter. Royal Bank of Canada now owns 71,697 shares of the company's stock valued at $3,447,000 after acquiring an additional 2,101 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Avnet by 16.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company's stock worth $11,148,000 after purchasing an additional 31,919 shares in the last quarter. United Services Automobile Association bought a new position in shares of Avnet in the first quarter valued at approximately $267,000. Empowered Funds LLC boosted its holdings in shares of Avnet by 9.3% in the 1st quarter. Empowered Funds LLC now owns 8,142 shares of the company's stock worth $392,000 after buying an additional 696 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Avnet by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company's stock valued at $17,012,000 after acquiring an additional 16,443 shares during the period. Institutional investors own 95.78% of the company's stock.

Insider Activity

In other Avnet news, CEO Philip R. Gallagher sold 51,900 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the sale, the chief executive officer owned 168,923 shares of the company's stock, valued at approximately $16,632,158.58. The trade was a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company's stock.

About Avnet

Avnet, Inc NASDAQ: AVT is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet's offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.

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