ValuEngine Downgrades AVX (NYSE:AVX) to Sell

AVX (NYSE:AVX) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday, ValuEngine reports.

Separately, Zacks Investment Research upgraded Focus Financial Partners from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, June 24th.

Shares of AVX stock opened at $15.85 on Friday. AVX has a 1 year low of $14.21 and a 1 year high of $21.48. The company’s 50 day moving average is $15.92. The stock has a market capitalization of $2.66 billion, a P/E ratio of 9.84 and a beta of 1.15.

AVX (NYSE:AVX) last issued its quarterly earnings data on Monday, April 22nd. The electronics maker reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. AVX had a return on equity of 11.74% and a net margin of 15.17%. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $449.00 million. During the same period in the prior year, the business posted $0.19 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that AVX will post 1.31 earnings per share for the current year.

In other news, SVP Evan M. Slavitt sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $16.14, for a total value of $129,120.00. Following the sale, the senior vice president now directly owns 28,872 shares in the company, valued at $465,994.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Investors Research Corp bought a new position in AVX in the first quarter worth approximately $29,000. PNC Financial Services Group Inc. grew its stake in AVX by 1,007.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,717 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 1,562 shares in the last quarter. Advisor Group Inc. grew its stake in AVX by 117.8% in the fourth quarter. Advisor Group Inc. now owns 2,428 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 1,313 shares in the last quarter. Quantamental Technologies LLC bought a new position in AVX in the first quarter worth approximately $49,000. Finally, Meeder Asset Management Inc. bought a new position in AVX in the first quarter worth approximately $107,000. Hedge funds and other institutional investors own 25.13% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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