Avnet, Inc. (NYSE:AVT) – Analysts at SunTrust dropped their Q1 2016 earnings per share (EPS) estimates for Avnet in a report issued on Friday, Zacks Investment Research reports. SunTrust analyst W. Stein now anticipates that the brokerage will post earnings of $0.98 per share for the quarter, down from their previous forecast of $1.16. The consensus estimate for Avnet’s Q1 2016 earnings is $0.99 per share. SunTrust also issued estimates for Avnet’s Q1 2017 earnings at $1.17 EPS, Q2 2017 earnings at $1.28 EPS, Q3 2017 earnings at $1.12 EPS, Q4 2017 earnings at $1.36 EPS and FY2017 earnings at $4.87 EPS.

Avnet (NYSE:AVT) last issued its earnings results on Thursday, January 28th. The company reported $1.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.25 by $0.03. The firm earned $6.85 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the company posted $1.27 EPS. Avnet’s revenue for the quarter was down 9.3% compared to the same quarter last year.

Several other research analysts have also issued reports on AVT. Zacks Investment Research lowered shares of Avnet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 7th. Brean Capital started coverage on shares of Avnet in a research report on Friday, October 30th. They issued a “buy” rating for the company. Deutsche Bank reiterated a “hold” rating on shares of Avnet in a research report on Sunday, November 1st. Longbow Research upgraded shares of Avnet from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Friday, January 22nd. Finally, Citigroup Inc. cut their target price on shares of Avnet from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Avnet presently has an average rating of “Buy” and an average target price of $47.43.

Shares of Avnet (NYSE:AVT) opened at 40.50 on Monday. The firm has a market capitalization of $5.32 billion and a P/E ratio of 9.76. Avnet has a 52 week low of $36.42 and a 52 week high of $47.27. The stock has a 50 day moving average price of $41.12 and a 200 day moving average price of $42.91.

Other institutional investors have recently modified their holdings of the company. Meeder Asset Management increased its position in shares of Avnet by 23.7% in the fourth quarter. Meeder Asset Management now owns 98,342 shares of the company’s stock valued at $4,212,000 after buying an additional 18,830 shares during the period. River & Mercantile Asset Management purchased a new position in shares of Avnet during the fourth quarter valued at approximately $2,026,000. Fourth Swedish National Pension Fund increased its position in shares of Avnet by 4.0% in the fourth quarter. Fourth Swedish National Pension Fund now owns 38,728 shares of the company’s stock valued at $1,659,000 after buying an additional 1,504 shares during the period. ID Management A increased its position in shares of Avnet by 650.0% in the fourth quarter. ID Management A now owns 30,000 shares of the company’s stock valued at $1,285,000 after buying an additional 26,000 shares during the period. Finally, Acadian Asset Management increased its position in shares of Avnet by 13.9% in the fourth quarter. Acadian Asset Management now owns 19,389 shares of the company’s stock valued at $830,000 after buying an additional 2,365 shares during the period.

Avnet, Inc. distributes electronic components, enterprise computer and storage products, information technology solutions and services, and embedded subsystems. The Company operates in two segments: Electronics Marketing (NYSE:AVT) and Technology Solutions (TS). Both operating groups have operations in each of the three economic regions of the world: the Americas; Europe, the Middle East and Africa; and Asia/Pacific, consisting of Asia, Australia and New Zealand. The EM segment markets and sells semiconductors and interconnect, passive and electromechanical devices, and embedded products to a diverse customer base serving many end-markets. The TS segment focuses on the distribution of enterprise computing servers and systems, software, storage, services and complex solutions from the technology manufacturers. The TS segment also provides hard disk drives, microprocessor, motherboard and dynamic random-access memory module technologies to manufacturers of computers and system builders.

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