Extremely significant positive changes in Avnet Inc (NASDAQ: AVT) investment behavior have recently occurred: the stock’s recent price rise disrupted its longer term downtrend, its longer term price trend turned up, and its shorter term price trend turned up.
Recent minimal positive changes in fundamentals have benefitted Avnet Inc (NASDAQ: AVT): significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, AVT is expected to continue to be a Value Builder.
Avnet has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Avnet has a very high Appreciation Score of 90 but a slightly negative Power Rating of 33, leading to the High Neutral Value Trend Rating.
Recent Price Action
Avnet Inc (NASDAQ: AVT) stock rose slightly by 0.2% on 3/28/24. The stock closed at $49.58. However, this advance was accompanied by unusually low trading volume at 65% of normal. The stock has performed in line with the market over the last nine months and has risen 5.5% during the last week.
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