Arrow Electronics, Inc. (NYSE:ARW) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the firm. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $68.60.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Tuesday, April 11th. SunTrust Banks, Inc. lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating and upped their target price for the stock from $72.00 to $74.00 in a research note on Tuesday, January 3rd.
In other news, Chairman Michael J. Long sold 190,865 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $72.14, for a total value of $13,769,001.10. Following the completion of the sale, the chairman now owns 409,118 shares in the company, valued at approximately $29,513,772.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mary Catherine Morris sold 6,263 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $75.38, for a total transaction of $472,104.94. Following the completion of the sale, the insider now owns 15,770 shares of the company’s stock, valued at approximately $1,188,742.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,628 shares of company stock valued at $14,496,116. Company insiders own 1.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Cypress Wealth Advisors LLC bought a new position in shares of Arrow Electronics during the fourth quarter worth $202,000. Flinton Capital Management LLC bought a new position in shares of Arrow Electronics during the fourth quarter worth $203,000. Parametrica Management Ltd bought a new position in shares of Arrow Electronics during the first quarter worth $208,000. Robecosam AG increased its position in shares of Arrow Electronics by 70.0% in the third quarter. Robecosam AG now owns 3,400 shares of the technology company’s stock worth $215,000 after buying an additional 1,400 shares during the period. Finally, Cadence Capital Management LLC bought a new position in shares of Arrow Electronics during the fourth quarter worth $221,000. Hedge funds and other institutional investors own 93.74% of the company’s stock.
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Shares of Arrow Electronics (NYSE:ARW) traded down 1.58% during midday trading on Tuesday, hitting $70.87. 491,227 shares of the stock traded hands. The firm has a 50-day moving average price of $72.52 and a 200-day moving average price of $69.84. The stock has a market capitalization of $6.30 billion, a P/E ratio of 12.48 and a beta of 1.25. Arrow Electronics has a 52 week low of $58.09 and a 52 week high of $75.88.
Arrow Electronics (NYSE:ARW) last posted its earnings results on Tuesday, February 7th. The technology company reported $2.00 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.00. Arrow Electronics had a net margin of 2.19% and a return on equity of 13.73%. The firm earned $6.44 billion during the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The business’s revenue was down 4.6% compared to the same quarter last year. On average, equities analysts predict that Arrow Electronics will post $7.04 earnings per share for the current fiscal year.
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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