Citigroup set a $76.00 target price on Arrow Electronics (NYSE:ARW) in a research note released on Monday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the technology company’s stock.
Several other analysts have also recently weighed in on the company. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Cross Research lowered Arrow Electronics from a buy rating to a hold rating in a research report on Thursday, June 20th. Bank of America upgraded Esperion Therapeutics from an underperform rating to a neutral rating in a research report on Monday, May 6th. ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research report on Thursday, May 9th. Finally, Deutsche Bank set a $60.00 price objective on Taubman Centers and gave the company a hold rating in a research report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Arrow Electronics has an average rating of Hold and an average target price of $79.69.
NYSE:ARW opened at $67.30 on Monday. The firm has a 50-day simple moving average of $67.95. Arrow Electronics has a twelve month low of $62.35 and a twelve month high of $86.62. The stock has a market cap of $5.84 billion, a PE ratio of 7.84, a P/E/G ratio of 3.05 and a beta of 1.39. The company has a current ratio of 1.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65.
Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.06). Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The business had revenue of $7.16 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the previous year, the business earned $1.88 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts expect that Arrow Electronics will post 8.41 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its position in shares of Arrow Electronics by 4.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,350 shares of the technology company’s stock valued at $258,000 after purchasing an additional 137 shares during the last quarter. Synovus Financial Corp grew its position in Arrow Electronics by 3.8% during the 1st quarter. Synovus Financial Corp now owns 4,703 shares of the technology company’s stock worth $363,000 after acquiring an additional 171 shares during the last quarter. Twin Capital Management Inc. grew its position in Arrow Electronics by 0.4% during the 1st quarter. Twin Capital Management Inc. now owns 52,100 shares of the technology company’s stock worth $4,015,000 after acquiring an additional 220 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Arrow Electronics by 2.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 9,561 shares of the technology company’s stock worth $737,000 after acquiring an additional 231 shares during the last quarter. Finally, Signaturefd LLC grew its position in Arrow Electronics by 22.0% during the 1st quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $100,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.
Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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