Arrow Electronics (ARW) Upgraded by Raymond James Financial to Strong-Buy

Arrow Electronics (NYSE:ARW) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to a “strong-buy” rating in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a $93.00 target price on the technology company’s stock. Raymond James Financial’s target price indicates a potential upside of 19.32% from the company’s current price.

Separately, Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $88.00.

Arrow Electronics (ARW) traded up $1.85 during trading hours on Monday, reaching $77.94. The company had a trading volume of 524,921 shares, compared to its average volume of 489,953. The stock has a market capitalization of $6,880.00, a price-to-earnings ratio of 17.44, a PEG ratio of 0.89 and a beta of 1.17. The company has a quick ratio of 1.15, a current ratio of 1.56 and a debt-to-equity ratio of 0.59. Arrow Electronics has a 52-week low of $69.67 and a 52-week high of $87.26.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Tuesday, February 6th. The technology company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.30 by $0.21. The firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.46 billion. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. Arrow Electronics’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. equities research analysts anticipate that Arrow Electronics will post 8.47 EPS for the current fiscal year.

In other Arrow Electronics news, SVP Matthew R. Anderson sold 1,416 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.00, for a total transaction of $111,864.00. Following the transaction, the senior vice president now owns 1,416 shares of the company’s stock, valued at $111,864. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sean J. Kerins sold 3,816 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total value of $300,967.92. Following the transaction, the insider now directly owns 25,552 shares in the company, valued at approximately $2,015,286.24. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Brandes Investment Partners LP grew its holdings in shares of Arrow Electronics by 44.4% during the fourth quarter. Brandes Investment Partners LP now owns 28,292 shares of the technology company’s stock worth $2,275,000 after purchasing an additional 8,697 shares during the last quarter. Bbva Compass Bancshares Inc. purchased a new position in shares of Arrow Electronics during the fourth quarter worth about $298,000. Advisors Preferred LLC purchased a new position in shares of Arrow Electronics during the fourth quarter worth about $121,000. OppenheimerFunds Inc. grew its holdings in shares of Arrow Electronics by 13.0% during the fourth quarter. OppenheimerFunds Inc. now owns 93,152 shares of the technology company’s stock worth $7,490,000 after purchasing an additional 10,706 shares during the last quarter. Finally, FDx Advisors Inc. grew its holdings in shares of Arrow Electronics by 23.5% during the fourth quarter. FDx Advisors Inc. now owns 25,580 shares of the technology company’s stock worth $2,057,000 after purchasing an additional 4,868 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors.

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Arrow Electronics Company Profile

Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.

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