Arrow Electronics (NYSE:ARW) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to a “strong-buy” rating in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a $93.00 target price on the technology company’s stock. Raymond James Financial’s target price indicates a potential upside of 19.32% from the company’s current price.
Separately, Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $88.00.
Arrow Electronics (ARW) traded up $1.85 during trading hours on Monday, reaching $77.94. The company had a trading volume of 524,921 shares, compared to its average volume of 489,953. The stock has a market capitalization of $6,880.00, a price-to-earnings ratio of 17.44, a PEG ratio of 0.89 and a beta of 1.17. The company has a quick ratio of 1.15, a current ratio of 1.56 and a debt-to-equity ratio of 0.59. Arrow Electronics has a 52-week low of $69.67 and a 52-week high of $87.26.
In other Arrow Electronics news, SVP Matthew R. Anderson sold 1,416 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.00, for a total transaction of $111,864.00. Following the transaction, the senior vice president now owns 1,416 shares of the company’s stock, valued at $111,864. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sean J. Kerins sold 3,816 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total value of $300,967.92. Following the transaction, the insider now directly owns 25,552 shares in the company, valued at approximately $2,015,286.24. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Brandes Investment Partners LP grew its holdings in shares of Arrow Electronics by 44.4% during the fourth quarter. Brandes Investment Partners LP now owns 28,292 shares of the technology company’s stock worth $2,275,000 after purchasing an additional 8,697 shares during the last quarter. Bbva Compass Bancshares Inc. purchased a new position in shares of Arrow Electronics during the fourth quarter worth about $298,000. Advisors Preferred LLC purchased a new position in shares of Arrow Electronics during the fourth quarter worth about $121,000. OppenheimerFunds Inc. grew its holdings in shares of Arrow Electronics by 13.0% during the fourth quarter. OppenheimerFunds Inc. now owns 93,152 shares of the technology company’s stock worth $7,490,000 after purchasing an additional 10,706 shares during the last quarter. Finally, FDx Advisors Inc. grew its holdings in shares of Arrow Electronics by 23.5% during the fourth quarter. FDx Advisors Inc. now owns 25,580 shares of the technology company’s stock worth $2,057,000 after purchasing an additional 4,868 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors.
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Arrow Electronics Company Profile
Arrow Electronics, Inc 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 various electronic components and enterprise computing solutions suppliers.
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