Avnet (AVT) Moves 11.8% Higher: Will This Strength Last?

Avnet AVT shares rallied 11.8% in the last trading session to close at $46.41. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.5% loss over the past four weeks.The upswing was likely driven by a broader market rally following US President Donald Trump’s announcement of pausing the reciprocal tariffs for 90 days. However, a baseline tariff of 10% on imports would continue to apply.This distributor of electronic components is expected to post quarterly earnings of $0.72 per share in its upcoming report, which represents a year-over-year change of -34.6%. Revenues are expected to be $5.29 billion, down 6.4% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Avnet, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AVT going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Avnet is a member of the Zacks Electronics - Parts Distribution industry. One other stock in the same industry, Wesco International WCC, finished the last trading session 15.8% higher at $153.86. WCC has returned -16% over the past month.For Wesco International, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.23. This represents a change of -3% from what the company reported a year ago. Wesco International currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Avnet, Inc. (AVT): Free Stock Analysis Report WESCO International, Inc. (WCC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks