Zacks: AVX Co. (AVX) Given Consensus Rating of “Buy” by Brokerages

Shares of AVX Co. (NYSE:AVX) have received a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Analysts have set a 12 month consensus price objective of $18.00 for the company and are expecting that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AVX an industry rank of 98 out of 257 based on the ratings given to related companies.

AVX has been the topic of several analyst reports. Zacks Investment Research downgraded shares of AVX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Stifel Nicolaus lifted their target price on shares of AVX from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Finally, ValuEngine downgraded shares of AVX from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th.

In other AVX news, SVP John Lawing sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $20.23, for a total transaction of $101,150.00. Following the transaction, the senior vice president now directly owns 8,656 shares of the company’s stock, valued at approximately $175,110.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Willing King sold 10,000 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $20.94, for a total transaction of $209,400.00. Following the transaction, the vice president now directly owns 14,752 shares in the company, valued at $308,906.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,094 shares of company stock worth $332,671. Insiders own 0.46% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlueMountain Capital Management LLC increased its position in AVX by 20.7% during the 2nd quarter. BlueMountain Capital Management LLC now owns 22,782 shares of the electronics maker’s stock valued at $357,000 after purchasing an additional 3,906 shares during the period. Suntrust Banks Inc. increased its position in AVX by 38.7% during the 1st quarter. Suntrust Banks Inc. now owns 16,866 shares of the electronics maker’s stock valued at $278,000 after purchasing an additional 4,706 shares during the period. Barclays PLC increased its position in AVX by 41.9% during the 1st quarter. Barclays PLC now owns 17,758 shares of the electronics maker’s stock valued at $294,000 after purchasing an additional 5,246 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of AVX by 25.2% during the 1st quarter. JPMorgan Chase & Co. now owns 27,810 shares of the electronics maker’s stock valued at $461,000 after buying an additional 5,603 shares in the last quarter. Finally, Jolley Asset Management LLC boosted its holdings in shares of AVX by 2.0% during the 2nd quarter. Jolley Asset Management LLC now owns 284,591 shares of the electronics maker’s stock valued at $4,460,000 after buying an additional 5,680 shares in the last quarter. 24.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE AVX traded down $0.32 during mid-day trading on Friday, hitting $16.77. The stock had a trading volume of 495,953 shares, compared to its average volume of 443,025. AVX has a 1 year low of $14.51 and a 1 year high of $21.48. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 20.96 and a beta of 1.09.

AVX (NYSE:AVX) last issued its earnings results on Wednesday, October 24th. The electronics maker reported $0.43 EPS for the quarter, topping the consensus estimate of $0.33 by $0.10. AVX had a net margin of 3.73% and a return on equity of 8.77%. The company had revenue of $456.33 million for the quarter, compared to the consensus estimate of $462.00 million. During the same period in the previous year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, equities analysts predict that AVX will post 1.44 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Thursday, November 1st. AVX’s payout ratio is currently 57.50%.

About AVX

AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale.

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