Avnet Stock Hits New 52-Week High (AVT)

NEW YORK ( TheStreet) -- Avnet (NYSE: AVT) hit a new 52-week high Wednesday as it traded at $37.16 compared with its previous 52-Week high of $37.12. Avnet is changing hands at $37.09 with 41,904 shares traded as of 9:46 a.m. ET. Average volume has been 1.2 million shares over the past 30 days. Avnet has a market cap of $5.6 billion and is part of the services sector and wholesale industry. Shares are up 11.4% year to date as of the close of trading on Tuesday.

Avnet, Inc., together with its subsidiaries, distributes electronic components, enterprise computer and storage products, and embedded subsystems worldwide. The company operates in two segments, Electronics Marketing and Technology Solutions. The company has a P/E ratio of 10.5, equal to the average wholesale industry P/E ratio and below the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates Avnet as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, robust revenue growth, notable return on equity and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Avnet Ratings Report.

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