Arrow Electronics Receives Neutral Rating from Zacks (ARW)
Arrow Electronics (NYSE:ARW)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Monday, Analyst Ratings News reports. They currently have a $55.00 target price on the stock. Zacks‘ price objective would suggest a potential upside of 3.21% from the company’s current price.
Arrow Electronics (NYSE:ARW) traded up 1.68% on Monday, hitting $53.29. 1,119,331 shares of the company’s stock traded hands. Arrow Electronics has a one year low of $36.11 and a one year high of $54.77. The stock has a 50-day moving average of $52.49 and a 200-day moving average of $49.77. The company has a market cap of $5.327 billion and a P/E ratio of 13.61.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.69 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.62 by $0.07. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the company posted $1.22 earnings per share. Arrow Electronics’s revenue was up 13.8% compared to the same quarter last year. On average, analysts predict that Arrow Electronics will post $5.65 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Arrow Electronics from $50.00 to $55.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Brean Capital raised their price target on shares of Arrow Electronics from $54.00 to $57.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Ned Davis Research upgraded shares of Arrow Electronics from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $54.29.
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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