Stifel Nicolaus Cuts Arrow Electronics (NYSE:ARW) Price Target to $70.00

Arrow Electronics (NYSE:ARW) had its target price lowered by Stifel Nicolaus from $75.00 to $70.00 in a research note published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the technology company’s stock.

ARW has been the topic of a number of other reports. Cross Research downgraded shares of Arrow Electronics from a buy rating to a hold rating in a research note on Thursday, June 20th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Citigroup downgraded shares of Galaxy Resources from a buy rating to a neutral rating in a research note on Tuesday. Raymond James reissued a buy rating and issued a $26.00 target price on shares of Propetro in a report on Tuesday, July 2nd. Finally, ValuEngine raised shares of VESTAS WIND SYS/ADR from a hold rating to a buy rating in a report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $76.31.

Shares of Arrow Electronics stock opened at $67.25 on Tuesday. The firm has a market capitalization of $5.66 billion, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 3.26 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.74 and a quick ratio of 1.21. Arrow Electronics has a 12-month low of $62.35 and a 12-month high of $86.62. The business’s 50-day moving average price is $68.35.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). The firm had revenue of $7.16 billion for the quarter, compared to analyst estimates of $6.96 billion. Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share. On average, research analysts forecast that Arrow Electronics will post 7.64 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Arrow Electronics by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,466,756 shares of the technology company’s stock valued at $239,030,000 after buying an additional 34,362 shares during the period. Brown Advisory Inc. grew its stake in shares of Arrow Electronics by 12.1% during the 4th quarter. Brown Advisory Inc. now owns 20,358 shares of the technology company’s stock valued at $1,404,000 after buying an additional 2,204 shares during the period. Geode Capital Management LLC grew its stake in shares of Arrow Electronics by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 918,201 shares of the technology company’s stock valued at $63,269,000 after buying an additional 86,631 shares during the period. Schafer Cullen Capital Management Inc grew its stake in shares of Arrow Electronics by 0.8% during the 4th quarter. Schafer Cullen Capital Management Inc now owns 85,660 shares of the technology company’s stock valued at $5,906,000 after buying an additional 653 shares during the period. Finally, Gotham Asset Management LLC purchased a new stake in Arrow Electronics during the 4th quarter worth $430,000. 93.22% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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