Arrow Electronics (NYSE:ARW) announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.51 EPS for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.21, Bloomberg Earnings reports. The company had revenue of $7.63 billion for 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%. Arrow Electronics’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 EPS. Arrow Electronics updated its Q1 guidance to $1.74-1.86 EPS.
Arrow Electronics (NYSE:ARW) traded down $0.07 during trading on Tuesday, hitting $77.87. 52,317 shares of the stock traded hands, compared to its average volume of 488,441. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.15 and a current ratio of 1.56. Arrow Electronics has a 12-month low of $69.67 and a 12-month high of $87.26. The stock has a market cap of $6,673.82, a PE ratio of 17.44, a P/E/G ratio of 0.89 and a beta of 1.17.
A number of analysts recently commented on the stock. Pivotal Research assumed coverage on shares of Arrow Electronics in a research note on Tuesday. They set a “buy” rating and a $98.00 price target on the stock. Raymond James Financial upgraded shares of Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 target price on the stock in a research note on Monday. Finally, Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Arrow Electronics has a consensus rating of “Buy” and a consensus target price of $90.00.
In other Arrow Electronics news, SVP Matthew R. Anderson sold 1,416 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.00, for a total value of $111,864.00. Following the sale, the senior vice president now owns 1,416 shares of the company’s stock, valued at approximately $111,864. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sean J. Kerins sold 3,816 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total transaction of $300,967.92. Following the completion of the sale, 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. 1.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC boosted its stake in shares of Arrow Electronics by 489.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,170 shares in the last quarter. Advisors Preferred LLC purchased a new position in Arrow Electronics during the 4th quarter valued at about $121,000. Cerebellum GP LLC purchased a new position in Arrow Electronics during the 4th quarter valued at about $132,000. Advisor Group Inc. lifted its position in Arrow Electronics by 76.1% during the 3rd quarter. Advisor Group Inc. now owns 1,819 shares of the technology company’s stock valued at $145,000 after acquiring an additional 786 shares during the period. Finally, Calton & Associates Inc. purchased a new position in Arrow Electronics during the 4th quarter valued at about $156,000. 93.00% of the stock is currently owned by hedge funds and other 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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