Research analysts at Deutsche Bank initiated coverage on shares of Arrow Electronics (NYSE:ARW) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $83.00 price target on the technology company’s stock. Deutsche Bank’s target price would indicate a potential upside of 21.27% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Bank of America downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 target price on the stock. in a research note on Monday, May 6th. ValuEngine downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Finally, Zacks Investment Research downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $81.07.
Shares of NYSE:ARW opened at $68.44 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.74. Arrow Electronics has a 12-month low of $62.35 and a 12-month high of $86.62. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 2.92 and a beta of 1.35.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.84 earnings per share (EPS) 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 firm had revenue of $7.16 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same period last year, the firm earned $1.88 earnings per share. Arrow Electronics’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Arrow Electronics will post 8.49 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Arrow Electronics by 0.4% in the fourth quarter. BlackRock Inc. now owns 8,654,725 shares of the technology company’s stock worth $596,743,000 after acquiring an additional 38,557 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Arrow Electronics by 0.9% in the third quarter. Vanguard Group Inc now owns 7,937,507 shares of the technology company’s stock worth $585,153,000 after acquiring an additional 70,647 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Arrow Electronics by 8,975.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,854,494 shares of the technology company’s stock worth $70,000 after acquiring an additional 4,801,004 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Arrow Electronics by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,466,756 shares of the technology company’s stock worth $239,030,000 after acquiring an additional 34,362 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Arrow Electronics by 4.0% in the first quarter. AQR Capital Management LLC now owns 1,683,466 shares of the technology company’s stock worth $129,728,000 after acquiring an additional 64,507 shares during the last quarter. 93.08% of the stock is currently owned by institutional investors and hedge funds.
About Arrow Electronics
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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