Arrow Electronics (NYSE:ARW - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.
Separately, Bank of America raised their price objective on shares of Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Arrow Electronics presently has a consensus rating of "Hold" and an average target price of $115.75.
Read Our Latest Report on Arrow Electronics
Arrow Electronics Stock Performance
NYSE ARW traded down $0.37 during trading hours on Friday, hitting $130.36. 403,043 shares of the stock were exchanged, compared to its average volume of 485,658. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.10. Arrow Electronics has a 12-month low of $86.50 and a 12-month high of $137.80. The stock has a 50-day moving average of $124.80 and a 200 day moving average of $114.28. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39.
Arrow Electronics (NYSE:ARW - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.33. Arrow Electronics had a net margin of 1.40% and a return on equity of 8.97%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.32 billion. During the same quarter last year, the firm posted $2.41 earnings per share. Arrow Electronics's revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Arrow Electronics will post 10.57 earnings per share for the current year.
Insider Buying and Selling
In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total transaction of $331,542.40. Following the transaction, the senior vice president owned 17,057 shares of the company's stock, valued at $2,125,984.48. The trade was a 13.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Nowak sold 4,952 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $122.39, for a total value of $606,075.28. Following the transaction, the insider directly owned 43,895 shares in the company, valued at approximately $5,372,309.05. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,070 shares of company stock worth $1,116,062. Corporate insiders own 1.00% of the company's stock.
Institutional Investors Weigh In On Arrow Electronics
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Arrow Electronics in the 4th quarter valued at $5,137,000. HighTower Advisors LLC increased its holdings in Arrow Electronics by 2.6% in the fourth quarter. HighTower Advisors LLC now owns 18,975 shares of the technology company's stock valued at $2,146,000 after purchasing an additional 474 shares during the period. Commonwealth Equity Services LLC increased its holdings in Arrow Electronics by 2.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,286 shares of the technology company's stock valued at $824,000 after purchasing an additional 190 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Arrow Electronics by 4.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,101 shares of the technology company's stock valued at $577,000 after purchasing an additional 234 shares during the period. Finally, Xponance Inc. increased its holdings in Arrow Electronics by 12.4% in the fourth quarter. Xponance Inc. now owns 8,331 shares of the technology company's stock valued at $942,000 after purchasing an additional 918 shares during the period. 99.34% of the stock is currently owned by institutional investors.
Arrow Electronics Company Profile
(
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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.
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