Arrow Electronics Inc. Hits New 52-Week High at $49.93 (ARW)
Shares of Arrow Electronics (NYSE:ARW) hit a new 52-week high during mid-day trading on Friday, AmericanBankingNews.com reports. The stock traded as high as $49.93 and last traded at $49.57, with a volume of 334,102 shares trading hands. The stock had previously closed at $49.23.
Several analysts have recently commented on the stock. Analysts at SunTrust initiated coverage on shares of Arrow Electronics in a research note to investors on Tuesday. They set a “buy” rating on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Arrow Electronics currently has an average rating of “Hold” and a consensus price target of $49.14.
Arrow Electronics has a 1-year low of $32.26 and a 1-year high of $49.89. The stock’s 50-day moving average is $47.87 and its 200-day moving average is $42.67. The company has a market cap of $4.971 billion and a P/E ratio of 11.88.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.12 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Arrow Electronics will post $4.69 earnings per share for the current fiscal year.
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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