Arrow Electronics (NYSE:ARW) Given New $98.00 Price Target at Wells Fargo & Company

Arrow Electronics (NYSE:ARW) had its price target cut by Wells Fargo & Company from $100.00 to $98.00 in a research report report published on Friday,Benzinga reports. They currently have an underweight rating on the technology company’s stock.

Other research analysts have also issued research reports about the stock. Truist Financial lowered their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Raymond James lowered their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $121.25.

Arrow Electronics Stock Down 2.3 %

ARW stock opened at $107.15 on Friday. Arrow Electronics has a one year low of $105.00 and a one year high of $137.80. The firm has a market cap of $5.63 billion, a PE ratio of 11.96 and a beta of 1.26. The firm’s 50 day moving average price is $116.32 and its 200-day moving average price is $123.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. On average, equities research analysts anticipate that Arrow Electronics will post 10.26 EPS for the current year.

Institutional Trading of Arrow Electronics

Several hedge funds have recently made changes to their positions in ARW. BOK Financial Private Wealth Inc. acquired a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $25,000. True Wealth Design LLC acquired a new position in shares of Arrow Electronics in the third quarter worth $31,000. Brooklyn Investment Group acquired a new position in shares of Arrow Electronics in the third quarter worth $40,000. Principal Securities Inc. raised its stake in shares of Arrow Electronics by 35.7% in the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock valued at $54,000 after acquiring an additional 126 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Arrow Electronics by 24.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock valued at $64,000 after acquiring an additional 112 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Company Profile

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.