Arrow Electronics (NYSE:ARW) has been assigned an average rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $89.80.
A number of brokerages recently commented on ARW. ValuEngine cut Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, March 12th. Pivotal Research began coverage on Arrow Electronics in a research report on Tuesday, February 13th. They issued a “buy” rating and a $98.00 price target on the stock. Finally, Raymond James Financial upgraded Arrow Electronics from a “market perform” rating to a “strong-buy” rating and set a $93.00 price target on the stock in a research report on Monday, February 12th.
In related news, Chairman Michael J. Long sold 50,988 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $82.93, for a total value of $4,228,434.84. Following the sale, the chairman now directly owns 438,636 shares of the company’s stock, valued at $36,376,083.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Catherine Morris sold 3,545 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $82.43, for a total value of $292,214.35. Following the completion of the sale, the insider now directly owns 20,742 shares in the company, valued at $1,709,763.06. The disclosure for this sale can be found here. Insiders sold 59,113 shares of company stock worth $4,898,398 over the last ninety days. 1.30% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Arrow Electronics during the 3rd quarter valued at $244,000. SG Americas Securities LLC boosted its stake in Arrow Electronics by 768.9% during the 3rd quarter. SG Americas Securities LLC now owns 3,425 shares of the technology company’s stock valued at $275,000 after acquiring an additional 3,937 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Arrow Electronics by 0.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 358,433 shares of the technology company’s stock valued at $28,822,000 after acquiring an additional 2,553 shares during the last quarter. Legal & General Group Plc boosted its stake in Arrow Electronics by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 552,126 shares of the technology company’s stock valued at $44,398,000 after acquiring an additional 7,317 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Arrow Electronics during the 3rd quarter valued at $239,000. 93.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE ARW traded up $2.40 during mid-day trading on Wednesday, reaching $75.19. The company had a trading volume of 201,987 shares, compared to its average volume of 520,939. 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 one year low of $69.67 and a one year high of $87.26. The stock has a market capitalization of $6,384.38, a P/E ratio of 9.91, a PEG ratio of 0.85 and a beta of 1.16.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.51 EPS for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.21. Arrow Electronics had a return on equity of 14.12% and a net margin of 1.50%. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.46 billion. During the same quarter last year, the business earned $2.00 earnings per share. Arrow Electronics’s revenue was up 18.5% on a year-over-year basis. equities research analysts forecast that Arrow Electronics will post 8.47 earnings per share for the current year.
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About Arrow Electronics
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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