Raymond James Financial upgraded shares of Arrow Electronics (NYSE:ARW) from a market perform rating to a strong-buy rating in a report released on Monday morning, Marketbeat.com reports. The brokerage currently has $93.00 price objective on the technology company’s stock.
Separately, Zacks Investment Research downgraded shares of Arrow Electronics from a buy rating to a hold rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $90.00.
Shares of Arrow Electronics (NYSE ARW) opened at $81.47 on Monday. The firm has a market cap of $7,150.00, a PE ratio of 18.23, a P/E/G ratio of 0.92 and a beta of 1.17. Arrow Electronics has a 1-year low of $69.67 and a 1-year high of $87.26. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.56 and a quick ratio of 1.15.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.21. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.46 billion. Arrow Electronics had a net margin of 1.50% and a return on equity of 14.12%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. analysts forecast that Arrow Electronics will post 8.47 EPS for the current fiscal year.
In other Arrow Electronics news, insider Sean J. Kerins sold 3,816 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $78.87, for a total value of $300,967.92. Following the sale, the insider now directly owns 25,552 shares in the company, valued at $2,015,286.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Arrow Electronics by 26.9% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 75,100 shares of the technology company’s stock worth $6,039,000 after acquiring an additional 15,900 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Arrow Electronics in the fourth quarter worth about $4,476,000. Gotham Asset Management LLC bought a new stake in Arrow Electronics in the fourth quarter worth about $538,000. Glenmede Trust Co. NA raised its position in Arrow Electronics by 2.0% in the fourth quarter. Glenmede Trust Co. NA now owns 64,227 shares of the technology company’s stock worth $5,163,000 after acquiring an additional 1,238 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Arrow Electronics in the fourth quarter worth about $742,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.
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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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