Arrow Electronics (NYSE:ARW) Stock Rating Upgraded by Wall Street Zen

Key Points

• Arrow Electronics has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased confidence in the company's performance.
• Bank of America raised its price target for Arrow Electronics from $105 to $110, while maintaining an "underperform" rating amidst mixed reviews from analysts.
• Insider trading activity has been significant, with key executives selling shares recently, indicating possible fluctuations in individual ownership stakes.

Arrow Electronics (NYSE:ARW - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Separately, Bank of America raised their target price on shares of Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a research note on Monday, June 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $115.75.

Arrow Electronics Price Performance

Arrow Electronics stock traded up $0.74 during midday trading on Friday, hitting $127.89. 315,045 shares of the company's stock were exchanged, compared to its average volume of 365,518. The stock has a 50-day moving average price of $125.60 and a two-hundred day moving average price of $114.85. Arrow Electronics has a 52-week low of $86.50 and a 52-week high of $137.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 1.43. The company has a market cap of $6.63 billion, a P/E ratio of 17.62, a PEG ratio of 0.63 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.33. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.32 billion. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. Arrow Electronics's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.41 EPS. On average, equities research analysts forecast that Arrow Electronics will post 10.57 earnings per share for the current year.

Insider Activity

In other news, Director Gail Hamilton sold 1,458 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $178,444.62. Following the transaction, the director directly owned 101 shares of the company's stock, valued at $12,361.39. This represents a 93.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total value of $331,542.40. Following the transaction, the senior vice president owned 17,057 shares in the company, valued at $2,125,984.48. This trade represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,070 shares of company stock valued at $1,116,062 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrow Electronics

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Arrow Electronics by 12.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 821 shares of the technology company's stock worth $105,000 after acquiring an additional 90 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Arrow Electronics by 84.2% during the second quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company's stock worth $28,000 after buying an additional 101 shares during the period. Meritage Portfolio Management increased its position in shares of Arrow Electronics by 4.3% during the second quarter. Meritage Portfolio Management now owns 2,440 shares of the technology company's stock worth $311,000 after purchasing an additional 101 shares in the last quarter. Beverly Hills Private Wealth LLC increased its holdings in shares of Arrow Electronics by 4.2% in the first quarter. Beverly Hills Private Wealth LLC now owns 2,643 shares of the technology company's stock valued at $274,000 after purchasing an additional 106 shares during the period. Finally, Tectonic Advisors LLC grew its position in Arrow Electronics by 2.5% during the 2nd quarter. Tectonic Advisors LLC now owns 4,657 shares of the technology company's stock worth $593,000 after purchasing an additional 112 shares during the period. 99.34% of the stock is owned by institutional investors.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.