Deutsche Bank Begins Coverage on Arrow Electronics (NYSE:ARW)

Deutsche Bank began coverage on shares of Arrow Electronics (NYSE:ARW) in a research report report published on Tuesday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $83.00 price objective on the technology company’s stock.

Several other equities research analysts also recently issued reports on the company. Bank of America downgraded Arrow Electronics from a buy rating to a neutral rating and set a $76.15 price objective for the company. in a research note on Monday, May 6th. ValuEngine downgraded Arrow Electronics from a hold rating to a sell rating in a research note on Thursday, May 9th. Finally, Zacks Investment Research downgraded Arrow Electronics from a hold rating to a sell rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Arrow Electronics presently has an average rating of Hold and an average price target of $81.07.

Shares of NYSE ARW opened at $69.67 on Tuesday. Arrow Electronics has a 12 month low of $62.35 and a 12 month high of $86.62. The firm has a market cap of $5.64 billion, a PE ratio of 7.89, a P/E/G ratio of 2.92 and a beta of 1.35. 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 (NYSE:ARW) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.06). Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The company had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts anticipate that Arrow Electronics will post 8.49 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in ARW. Oregon Public Employees Retirement Fund lifted its stake in Arrow Electronics by 8,975.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,854,494 shares of the technology company’s stock worth $70,000 after acquiring an additional 4,801,004 shares in the last quarter. Norges Bank purchased a new stake in shares of Arrow Electronics during the 4th quarter worth about $49,210,000. AJO LP purchased a new stake in shares of Arrow Electronics during the 1st quarter worth about $12,048,000. State of Wisconsin Investment Board purchased a new stake in shares of Arrow Electronics during the 1st quarter worth about $10,714,000. Finally, Natixis purchased a new stake in shares of Arrow Electronics during the 1st quarter worth about $9,090,000. 93.08% of the stock is owned by hedge funds and other institutional investors.

About Arrow Electronics

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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