Arrow Electronics Receives New Coverage from Analysts at SunTrust (ARW)
Analysts at SunTrust assumed coverage on shares of Arrow Electronics (NYSE:ARW) in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Arrow Electronics (NYSE:ARW) traded down 0.29% on Tuesday, hitting $48.06. 851,725 shares of the company’s stock traded hands. Arrow Electronics has a 52-week low of $31.31 and a 52-week high of $49.89. The stock has a 50-day moving average of $47.71 and a 200-day moving average of $42.53. The company has a market cap of $4.815 billion and a P/E ratio of 11.63.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.03 by $0.09. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 million. During the same quarter last year, the company posted $1.11 earnings per share. Arrow Electronics’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Arrow Electronics will post $4.68 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at UBS AG downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Arrow Electronics in a research note to investors on Wednesday, September 25th. They now have a $51.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Arrow Electronics from $44.00 to $50.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $49.14.
Arrow Electronics, Inc (NYSE:ARW) is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.
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