Arrow Electronics Price Target Raised to $55.00 at Stifel Nicolaus (ARW)
Equities research analysts at Stifel Nicolaus hoisted their price objective on shares of Arrow Electronics (NYSE:ARW) from $50.00 to $55.00 in a research note issued to investors on Friday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 13.19% from the stock’s previous close.
Shares of Arrow Electronics (NYSE:ARW) opened at 48.59 on Friday. Arrow Electronics has a one year low of $35.26 and a one year high of $49.00. The stock has a 50-day moving average of $48.56 and a 200-day moving average of $43.65. The company has a market cap of $4.868 billion and a P/E ratio of 11.59.
Arrow Electronics (NYSE:ARW) last released its earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that Arrow Electronics will post $4.74 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of Arrow Electronics from $51.00 to $52.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $50.50.
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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