Citigroup set a $76.00 price objective on Arrow Electronics (NYSE:ARW) in a report released on Monday, Stock Target Advisor reports. The firm currently has a hold rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on ARW. Bank of America upgraded Esperion Therapeutics from an underperform rating to a neutral rating in a research note on Monday, May 6th. Cross Research cut Arrow Electronics from a buy rating to a hold rating in a research note on Thursday, June 20th. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research note on Thursday, May 9th. Finally, Deutsche Bank set a $60.00 price objective on Taubman Centers and gave the company a hold rating in a research note on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $79.69.

Shares of NYSE:ARW opened at $67.30 on Monday. The company’s fifty day moving average is $67.95. The stock has a market capitalization of $5.84 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 3.05 and a beta of 1.39. Arrow Electronics has a 12-month low of $62.35 and a 12-month high of $86.62. The company has a quick ratio of 1.21, a current ratio of 1.74 and a debt-to-equity ratio of 0.65.

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 the Zacks’ consensus estimate of $1.90 by ($0.06). The company had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 EPS. Sell-side analysts predict that Arrow Electronics will post 8.41 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Arrow Electronics by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,466,756 shares of the technology company’s stock worth $239,030,000 after purchasing an additional 34,362 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Arrow Electronics by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 918,201 shares of the technology company’s stock worth $63,269,000 after purchasing an additional 86,631 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Arrow Electronics by 3.9% in the 4th quarter. Northern Trust Corp now owns 909,068 shares of the technology company’s stock worth $62,680,000 after purchasing an additional 34,185 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Arrow Electronics by 18.0% in the 2nd quarter. DNB Asset Management AS now owns 880,815 shares of the technology company’s stock worth $62,776,000 after purchasing an additional 134,600 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Arrow Electronics in the 4th quarter worth $49,210,000. 93.08% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Arrow Electronics (NYSE:ARW)

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