Arrow Electronics, Inc. (NYSE:ARW) has received a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $78.88.
Several research firms have recently issued reports on ARW. Raymond James reiterated a “buy” rating and set a $87.00 target price (up from $80.00) on shares of Arrow Electronics in a report on Friday, November 1st. SunTrust Banks lifted their target price on shares of Arrow Electronics from $70.00 to $84.00 and gave the company a “hold” rating in a report on Monday, November 4th. Wells Fargo & Co lowered shares of Arrow Electronics from an “overweight” rating to an “equal weight” rating and set a $86.00 target price for the company. in a report on Monday. TheStreet upgraded shares of Arrow Electronics from a “c+” rating to a “b-” rating in a report on Friday, November 29th. Finally, Bank of America set a $70.00 target price on shares of Arrow Electronics and gave the company a “sell” rating in a report on Friday, November 1st.
In related news, SVP Gretchen Zech sold 12,453 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $81.57, for a total value of $1,015,791.21. Following the completion of the transaction, the senior vice president now directly owns 17,512 shares in the company, valued at approximately $1,428,453.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Long sold 60,122 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.45, for a total transaction of $4,836,814.90. Following the completion of the transaction, the chief executive officer now owns 295,071 shares of the company’s stock, valued at $23,738,461.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,225 shares of company stock valued at $6,227,396. 1.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group grew its position in shares of Arrow Electronics by 14.9% during the 2nd quarter. Schroder Investment Management Group now owns 1,033,461 shares of the technology company’s stock valued at $73,655,000 after acquiring an additional 134,151 shares during the period. LPL Financial LLC bought a new stake in shares of Arrow Electronics during the 2nd quarter valued at $212,000. BlackRock Inc. grew its position in shares of Arrow Electronics by 1.8% during the 2nd quarter. BlackRock Inc. now owns 8,787,733 shares of the technology company’s stock valued at $626,303,000 after acquiring an additional 159,524 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Arrow Electronics by 7.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,564 shares of the technology company’s stock valued at $753,000 after acquiring an additional 730 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in shares of Arrow Electronics by 9.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 44,249 shares of the technology company’s stock valued at $3,155,000 after acquiring an additional 3,667 shares during the period. Institutional investors own 93.40% of the company’s stock.
Arrow Electronics stock opened at $84.15 on Wednesday. The stock’s 50 day simple moving average is $83.44 and its two-hundred day simple moving average is $75.76. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.61. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 10.59 and a beta of 1.36. Arrow Electronics has a fifty-two week low of $62.35 and a fifty-two week high of $86.62.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.19. Arrow Electronics had a positive return on equity of 13.21% and a negative net margin of 0.29%. The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.04 billion. During the same period in the previous year, the firm posted $2.15 EPS. The business’s revenue was down 5.5% on a year-over-year basis. On average, analysts predict that Arrow Electronics will post 7.45 earnings per share for the current year.
Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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