Arrow Electronics (NYSE:ARW) Price Target Lowered to $135.00 at Raymond James

Arrow Electronics (NYSE:ARW) had its price target lowered by Raymond James from $140.00 to $135.00 in a research note issued to investors on Friday, Benzinga reports. Raymond James currently has an outperform rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company boosted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Truist Financial lowered their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Arrow Electronics has a consensus rating of “Hold” and an average price target of $124.25.

Arrow Electronics Stock Performance

ARW stock opened at $119.13 on Friday. The stock’s 50 day simple moving average is $131.33 and its 200 day simple moving average is $128.22. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $137.80. The firm has a market cap of $6.31 billion, a P/E ratio of 13.30 and a beta of 1.27. The company has a current ratio of 1.46, a quick ratio of 1.07 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period last year, the firm posted $4.14 EPS. As a group, equities research analysts predict that Arrow Electronics will post 10.74 EPS for the current year.

Institutional Investors Weigh In On Arrow Electronics

Several institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in shares of Arrow Electronics by 9,044.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company’s stock worth $147,105,000 after buying an additional 1,204,837 shares in the last quarter. Boston Partners lifted its position in Arrow Electronics by 108.5% in the first quarter. Boston Partners now owns 1,001,443 shares of the technology company’s stock worth $129,622,000 after purchasing an additional 521,117 shares during the period. Lind Value II ApS bought a new position in Arrow Electronics during the 1st quarter valued at $66,949,000. Dimensional Fund Advisors LP increased its position in shares of Arrow Electronics by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company’s stock valued at $331,353,000 after purchasing an additional 325,122 shares during the period. Finally, Loews Corp bought a new stake in shares of Arrow Electronics in the 1st quarter worth $25,892,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.