Citigroup Maintains Arrow Electronics to Sell with Price Target $57.00

Brokerage firm Citigroup Maintains its rating on Arrow Electronics(NYSE:ARW). In a research note issued to the investors, the brokerage major Raises the price-target to $57.00 per share. The shares have been rated Sell. The rating by Citigroup was issued on Aug 3, 2016.

In a different note, On May 9, 2016, Goldman Sachs said it Maintains its rating on Arrow Electronics. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Buy’ by the firm.

Arrow Electronics (ARW) made into the market gainers list on Fridays trading session with the shares advancing 0.02% or 0.01 points. Due to strong positive momentum, the stock ended at $66.37, which is also near the day’s high of $66.62. The stock began the session at $66.24 and the volume stood at 3,86,287 shares. The 52-week high of the shares is $68.07 and the 52 week low is $45.23. The company has a current market capitalization of $6,057 M and it has 9,12,65,987 shares in outstanding.

Arrow Electronics(ARW) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.97B. Analysts had an estimated revenue of $6.04B. Earnings per share were $1.65. Analysts had estimated an EPS of $1.64.

Several Insider Transactions has been reported to the SEC. On Jun 13, 2016, Paul J Reilly (Executive Vice President) sold 50,705 shares at $67.30 per share price.Also, On Jun 8, 2016, Andrew S Bryant (Chief Operating Officer) sold 14,785 shares at $66.00 per share price.On May 25, 2016, Gregory Tarpinian (General Counsel) sold 3,300 shares at $63.21 per share price, according to the Form-4 filing with the securities and exchange commission.

Arrow Electronics Inc. (Arrow) is a provider of products services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from electronic components and enterprise computing solutions (ECS) suppliers coupled with a range of services solutions and tools for industrial and commercial customers. The Company operates in two business segments: the global components business and the global enterprise computing solutions business. The global components business segment is a provider of online catalogs for electronic components; cloud-based design tools; factory-direct end-of-life product inventory and disposition solutions to redeploy remarket and recycle technology assets. The global ECS business segment provides enterprise and midrange computing products services and solutions to value-added resellers (VARs) in the Americas EMEA and Asia Pacific regions.

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