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Wells Fargo Reaffirms Their Sell Rating on Arrow Electronics (ARW)

Tipranks - Tipranks - Tue Jan 27, 5:52AM CST

Wells Fargo analyst Joseph Quatrochi maintained a Sell rating on Arrow Electronics on January 23 and set a price target of $94.00. The company’s shares closed last Friday at $116.66.

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According to TipRanks, Quatrochi is a 5-star analyst with an average return of 20.2% and a 67.26% success rate. Quatrochi covers the Technology sector, focusing on stocks such as Applied Materials, Microchip, and Analog Devices.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Arrow Electronics with a $107.00 average price target.

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Based on Arrow Electronics’ latest earnings release for the quarter ending September 27, the company reported a quarterly revenue of $7.71 billion and a net profit of $109.19 million. In comparison, last year the company earned a revenue of $6.82 billion and had a net profit of $100.57 million

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