In the latest trading session, Avnet (AVT) closed at $40.50, marking a +1.28% move from the previous day. This move outpaced the S&P 500's daily gain of 0.24%.Coming into today, shares of the distributor of electronic components had lost 0.87% in the past month. In that same time, the Computer and Technology sector gained 2.93%, while the S&P 500 gained 4.09%.Wall Street will be looking for positivity from AVT as it approaches its next earnings report date. This is expected to be August 11, 2021. On that day, AVT is projected to report earnings of $0.82 per share, which would represent year-over-year growth of 485.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.06 billion, up 21.72% from the year-ago period.Investors should also note any recent changes to analyst estimates for AVT. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.88% higher. AVT is currently a Zacks Rank #1 (Strong Buy).Investors should also note AVT's current valuation metrics, including its Forward P/E ratio of 11.5. For comparison, its industry has an average Forward P/E of 11.5, which means AVT is trading at a no noticeable deviation to the group.Meanwhile, AVT's PEG ratio is currently 0.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AVT's industry had an average PEG ratio of 0.51 as of yesterday's close.The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>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 To read this article on Zacks.com click here.