Arrow Electronics (NYSE:ARW) Issues Quarterly Earnings Results

Arrow Electronics (NYSE:ARW - Get Free Report) posted its quarterly earnings data on Thursday. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.17, Zacks reports. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%.

Arrow Electronics Stock Performance

Arrow Electronics stock traded up $0.69 during mid-day trading on Monday, reaching $107.67. 573,975 shares of the company traded hands, compared to its average volume of 507,807. Arrow Electronics has a fifty-two week low of $105.00 and a fifty-two week high of $137.80. The firm's fifty day moving average is $115.75 and its two-hundred day moving average is $123.32. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.09. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 14.79 and a beta of 1.26.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ARW shares. Wells Fargo & Company reduced their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a research note on Friday. Bank of America lowered shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday. Raymond James dropped their target price on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Finally, Truist Financial reduced their price target on Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $121.25.

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.