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

Arrow Electronics (NYSE:ARW) had its price objective reduced by analysts at Raymond James from $140.00 to $135.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Raymond James’ price target points to a potential upside of 11.29% from the company’s previous close.

Several other research analysts have also commented on ARW. Wells Fargo & Company lifted their target price on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Truist Financial decreased their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.25.

Arrow Electronics Stock Up 2.2 %

NYSE:ARW traded up $2.64 during trading hours on Friday, hitting $121.31. The stock had a trading volume of 338,017 shares, compared to its average volume of 465,436. The business has a 50 day simple moving average of $131.57 and a two-hundred day simple moving average of $128.16. The company has a market cap of $6.42 billion, a PE ratio of 11.41 and a beta of 1.26. Arrow Electronics has a 1-year low of $108.51 and a 1-year high of $137.80. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.23 by $0.15. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the firm posted $4.14 earnings per share. The company’s revenue was down 14.8% compared to the same quarter last year. Analysts predict that Arrow Electronics will post 10.74 EPS for the current year.

Institutional Trading of Arrow Electronics

Several hedge funds have recently added to or reduced their stakes in ARW. Versant Capital Management Inc increased its holdings in shares of Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after purchasing an additional 294 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Arrow Electronics by 76.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after buying an additional 150 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Arrow Electronics during the 3rd quarter worth about $73,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics in the 3rd quarter worth approximately $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Arrow Electronics during the third quarter valued at approximately $88,000. Institutional investors own 99.34% of the company’s stock.

About Arrow Electronics

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.