Citigroup set a $76.00 price target on Arrow Electronics (NYSE:ARW) in a research note published on Monday, Stock Target Advisor reports. The brokerage currently has a hold rating on the technology company’s stock.
Several other brokerages also recently commented on ARW. Raymond James reissued a buy rating and set a $26.00 price objective on shares of Propetro in a research report on Tuesday, July 2nd. Deutsche Bank set a $60.00 price target on shares of Taubman Centers and gave the company a hold rating in a report on Tuesday, June 11th. Bank of America raised shares of Esperion Therapeutics from an underperform rating to a neutral rating in a report on Monday, May 6th. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Finally, ValuEngine raised shares of VESTAS WIND SYS/ADR from a hold rating to a buy rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $79.69.
ARW stock traded down $1.61 during trading on Monday, hitting $67.30. 506,163 shares of the stock traded hands, compared to its average volume of 563,784. Arrow Electronics has a 1 year low of $62.35 and a 1 year high of $86.62. The stock has a 50 day simple moving average of $67.93. The stock has a market capitalization of $6.03 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 3.15 and a beta of 1.39. The company has a current ratio of 1.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65.
Several hedge funds and other institutional investors have recently made changes to their positions in ARW. DNB Asset Management AS raised its stake in Arrow Electronics by 18.0% during the 2nd quarter. DNB Asset Management AS now owns 880,815 shares of the technology company’s stock worth $62,776,000 after acquiring an additional 134,600 shares during the period. Nordea Investment Management AB raised its position in shares of Arrow Electronics by 103.8% during the first quarter. Nordea Investment Management AB now owns 213,111 shares of the technology company’s stock valued at $16,421,000 after buying an additional 108,558 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of Arrow Electronics during the first quarter valued at approximately $324,000. Andra AP fonden bought a new stake in shares of Arrow Electronics during the first quarter valued at approximately $6,820,000. Finally, Trexquant Investment LP bought a new stake in shares of Arrow Electronics during the first quarter valued at approximately $1,440,000. 93.08% of the stock is currently 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.
Further Reading: Relative Strength Index
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