Arrow Electronics Receives Average Recommendation of “Buy” from Analysts (NYSE:ARW)
Shares of Arrow Electronics (NYSE:ARW) have received an average rating of “Buy” from the seven analysts that are currently covering the company, AnalystRatings.NET reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $62.40.
Shares of Arrow Electronics (NYSE:ARW) traded up 0.59% on Tuesday, hitting $62.62. 106,003 shares of the company’s stock traded hands. Arrow Electronics has a one year low of $45.56 and a one year high of $63.78. The stock’s 50-day moving average is $60.28 and its 200-day moving average is $58.41. The company has a market cap of $6.189 billion and a price-to-earnings ratio of 13.49.
Arrow Electronics (NYSE:ARW) last released its earnings data on Tuesday, July 29th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.42 by $0.01. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.69 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that Arrow Electronics will post $5.78 EPS for the current fiscal year.
A number of analysts have recently weighed in on ARW shares. Analysts at Zacks reiterated a “neutral” rating on shares of Arrow Electronics in a research note on Friday. They now have a $65.00 price target on the stock. Separately, analysts at Goldman Sachs downgraded shares of Arrow Electronics from a “buy” rating to a “neutral” rating in a research note on Monday, August 18th. They now have a $59.00 price target on the stock, down previously from $60.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Arrow Electronics in a research note on Wednesday, July 30th. They now have a $60.00 price target on the stock, up previously from $55.00.
In other Arrow Electronics news, CFO Paul J. Reilly unloaded 15,000 shares of Arrow Electronics stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $62.02, for a total transaction of $930,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
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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