Arrow Electronics (NYSE:ARW) Raised to "Buy" at 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 research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

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

Arrow Electronics Stock Up 0.9%

Shares of ARW stock traded up $1.15 on Friday, hitting $129.86. The stock had a trading volume of 385,905 shares, compared to its average volume of 353,433. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $125.76 and a 200 day moving average price of $115.01. The company has a market cap of $6.74 billion, a PE ratio of 17.89, a P/E/G ratio of 0.64 and a beta of 1.10. Arrow Electronics has a one year low of $86.50 and a one year high of $137.80.

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

Insider Transactions at Arrow Electronics

In other news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total transaction of $331,542.40. Following the sale, the senior vice president owned 17,057 shares in the company, valued at approximately $2,125,984.48. The trade was a 13.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Nowak sold 4,952 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $606,075.28. Following the sale, the insider owned 43,895 shares in the company, valued at $5,372,309.05. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,070 shares of company stock worth $1,116,062. Insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Arrow Electronics

A number of large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Arrow Electronics by 12.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 821 shares of the technology company's stock valued at $105,000 after buying an additional 90 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Arrow Electronics by 84.2% in the second quarter. Farther Finance Advisors LLC now owns 221 shares of the technology company's stock valued at $28,000 after buying an additional 101 shares during the last quarter. Meritage Portfolio Management boosted its position in Arrow Electronics by 4.3% in the second quarter. Meritage Portfolio Management now owns 2,440 shares of the technology company's stock valued at $311,000 after buying an additional 101 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its position in 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 buying an additional 106 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its position in Arrow Electronics by 2.5% in the second quarter. Tectonic Advisors LLC now owns 4,657 shares of the technology company's stock valued at $593,000 after buying an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

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.