Arrow Electronics (NYSE:ARW) Price Target Cut to $100.00 by Analysts at Wells Fargo & Company

Arrow Electronics (NYSE:ARW) had its price target decreased by analysts at Wells Fargo & Company from $105.00 to $100.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 10.84% from the company’s current price.

ARW has been the subject of a number of other research reports. Truist Financial lowered their price objective on 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 dropped their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock traded up $0.21 on Monday, reaching $112.16. The stock had a trading volume of 32,351 shares, compared to its average volume of 333,090. The business’s 50 day moving average is $117.20 and its two-hundred day moving average is $124.25. The company has a market cap of $5.90 billion, a P/E ratio of 12.52 and a beta of 1.26. Arrow Electronics has a 1 year low of $108.51 and a 1 year high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.15. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter last year, the company earned $4.14 earnings per share. As a group, research analysts anticipate that Arrow Electronics will post 10.23 EPS for the current year.

Hedge Funds Weigh In On Arrow Electronics

Several institutional investors and hedge funds have recently bought and sold shares of ARW. True Wealth Design LLC acquired a new stake in Arrow Electronics during the 3rd quarter worth about $31,000. Brooklyn Investment Group purchased a new stake in Arrow Electronics in the 3rd quarter worth approximately $40,000. Capital Performance Advisors LLP purchased a new position in Arrow Electronics during the third quarter worth approximately $73,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Arrow Electronics in the third quarter valued at approximately $78,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Arrow Electronics during the 3rd quarter valued at approximately $88,000. 99.34% 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 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.