Arrow Electronics, Inc. (ARW) Given Consensus Recommendation of “Buy” by Analysts

Shares of Arrow Electronics, Inc. (NYSE:ARW) have been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $89.50.

A number of research analysts have recently commented on ARW shares. Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Raymond James Financial raised shares of Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 target price for the company in a report on Monday. Finally, Pivotal Research set a $98.00 target price on shares of Arrow Electronics and gave the stock a “buy” rating in a report on Tuesday.

In other news, SVP Matthew R. Anderson sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $79.00, for a total value of $111,864.00. Following the completion of the transaction, the senior vice president now owns 1,416 shares of the company’s stock, valued at $111,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean J. Kerins sold 3,816 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $78.87, for a total value of $300,967.92. Following the completion of the transaction, the insider now directly owns 25,552 shares of the company’s stock, valued at approximately $2,015,286.24. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Brandes Investment Partners LP increased its stake in shares of Arrow Electronics by 44.4% in the fourth quarter. Brandes Investment Partners LP now owns 28,292 shares of the technology company’s stock valued at $2,275,000 after buying an additional 8,697 shares during the period. Bbva Compass Bancshares Inc. acquired a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $298,000. Advisors Preferred LLC acquired a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $121,000. OppenheimerFunds Inc. increased its stake in shares of Arrow Electronics by 13.0% in the fourth quarter. OppenheimerFunds Inc. now owns 93,152 shares of the technology company’s stock valued at $7,490,000 after buying an additional 10,706 shares during the period. Finally, FDx Advisors Inc. increased its stake in shares of Arrow Electronics by 23.5% in the fourth quarter. FDx Advisors Inc. now owns 25,580 shares of the technology company’s stock valued at $2,057,000 after buying an additional 4,868 shares during the period. 93.00% of the stock is owned by institutional investors.

Arrow Electronics (ARW) opened at $78.00 on Tuesday. The company has a market cap of $6,673.82, a PE 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 fifty-two week low of $69.67 and a fifty-two week high of $87.26.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Tuesday, February 6th. The technology company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.21. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.46 billion. Arrow Electronics had a net margin of 1.50% and a return on equity of 14.12%. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share. equities research analysts forecast that Arrow Electronics will post 8.47 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/13/arrow-electronics-inc-arw-given-consensus-recommendation-of-buy-by-analysts.html.

About Arrow Electronics

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.

Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply