Arrow Electronics Price Target Increased to $52.00 by Analysts at UBS AG (ARW)
Analysts at UBS AG raised their target price on shares of Arrow Electronics (NYSE:ARW) from $51.00 to $52.00 in a research report issued to clients and investors on Thursday, American Banking News reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price target indicates a potential upside of 8.29% from the company’s current price.
ARW has been the subject of a number of other recent research reports. Analysts at Brean Capital raised their price target on shares of Arrow Electronics from $51.00 to $54.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note to investors on Monday, October 14th. They now have a $50.00 price target on the stock. Finally, analysts at SunTrust initiated coverage on shares of Arrow Electronics in a research note to investors on Tuesday, October 8th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Arrow Electronics presently has a consensus rating of “Hold” and an average target price of $49.88.
Shares of Arrow Electronics (NYSE:ARW) traded up 1.97% during mid-day trading on Thursday, hitting $48.02. The stock had a trading volume of 885,039 shares. Arrow Electronics has a 52 week low of $35.26 and a 52 week high of $49.00. The stock has a 50-day moving average of $48.56 and a 200-day moving average of $43.61. The company has a market cap of $4.811 billion and a P/E ratio of 11.36.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.20 by $0.02. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the company posted $1.02 earnings per share. Arrow Electronics’s revenue was up 1.7% compared to the same quarter last year. Analysts expect that Arrow Electronics will post $4.67 EPS 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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