Raymond James Cuts Arrow Electronics (NYSE:ARW) Price Target to $135.00

Arrow Electronics (NYSE:ARW) had its price objective lowered by Raymond James from $140.00 to $135.00 in a research report report published on Friday morning, Benzinga reports. Raymond James currently has an outperform rating on the technology company’s stock.

A number of other brokerages have also weighed in on ARW. Truist Financial dropped their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday. Wells Fargo & Company raised their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Arrow Electronics has an average rating of “Hold” and an average price target of $124.25.

Arrow Electronics Trading Up 2.0 %

Shares of NYSE ARW opened at $121.03 on Friday. The business has a fifty day moving average price of $131.33 and a 200 day moving average price of $128.18. Arrow Electronics has a 1-year low of $108.51 and a 1-year high of $137.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.07. The stock has a market capitalization of $6.41 billion, a P/E ratio of 13.51 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same period last year, the business earned $4.14 EPS. The company’s revenue was down 14.8% compared to the same quarter last year. Equities research analysts expect that Arrow Electronics will post 10.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARW. Pacer Advisors Inc. raised its stake in Arrow Electronics by 9,044.0% during the second quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after purchasing an additional 1,204,837 shares during the period. Boston Partners lifted its holdings in Arrow Electronics by 108.5% in the first quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock valued at $129,622,000 after acquiring an additional 521,117 shares during the last quarter. Lind Value II ApS purchased a new position in Arrow Electronics in the first quarter worth approximately $66,949,000. Dimensional Fund Advisors LP increased its stake in Arrow Electronics by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock worth $331,353,000 after acquiring an additional 325,122 shares during the last quarter. Finally, Loews Corp purchased a new stake in Arrow Electronics in the first quarter valued at $25,892,000. Hedge funds and other institutional investors own 99.34% 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 in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.