Arrow Electronics (NYSE:ARW) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to a “strong-buy” rating in a report released on Monday, February 12th, MarketBeat.com reports. The firm currently has a $93.00 target price on the technology company’s stock. Raymond James Financial’s price target would indicate a potential upside of 13.68% from the company’s current price.
Separately, Zacks Investment Research cut Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Arrow Electronics currently has a consensus rating of “Buy” and a consensus price target of $90.00.
Shares of Arrow Electronics (NYSE ARW) opened at $81.81 on Monday. Arrow Electronics has a twelve month low of $69.67 and a twelve month high of $87.26. The company has a market capitalization of $7,175.52, a P/E ratio of 18.30, a P/E/G ratio of 0.96 and a beta of 1.17. The company has a quick ratio of 1.15, a current ratio of 1.56 and a debt-to-equity ratio of 0.59.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Tuesday, February 6th. The technology company reported $2.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.21. The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.46 billion. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. The firm’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.00 earnings per share. equities analysts predict that Arrow Electronics will post 8.47 EPS for the current fiscal year.
In related news, insider Sean J. Kerins sold 3,816 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total value of $300,967.92. Following the completion of the sale, the insider now directly owns 25,552 shares of the company’s stock, valued at approximately $2,015,286.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its position in Arrow Electronics by 489.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock valued at $110,000 after buying an additional 1,170 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of Arrow Electronics during the 4th quarter valued at $121,000. Cerebellum GP LLC purchased a new stake in shares of Arrow Electronics during the 4th quarter valued at $132,000. Advisor Group Inc. increased its position in shares of Arrow Electronics by 76.1% during the 3rd quarter. Advisor Group Inc. now owns 1,819 shares of the technology company’s stock valued at $145,000 after purchasing an additional 786 shares during the last quarter. Finally, Calton & Associates Inc. purchased a new stake in shares of Arrow Electronics during the 4th quarter valued at $156,000. 91.52% of the stock is owned by institutional investors and hedge funds.
About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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