Arrow Electronics, Inc. (ARW) Given Average Recommendation of “Hold” by Brokerages

Shares of Arrow Electronics, Inc. (NYSE:ARW) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $77.75.

A number of analysts have weighed in on ARW shares. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Wednesday, July 19th. BidaskClub cut Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $81.00 price target (up previously from $76.00) on shares of Arrow Electronics in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 price target on shares of Arrow Electronics in a research report on Tuesday, September 12th.

Shares of Arrow Electronics (NYSE ARW) traded up 0.82% during midday trading on Thursday, hitting $83.55. The company had a trading volume of 156,862 shares. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 15.28 and a beta of 1.15. Arrow Electronics has a one year low of $58.51 and a one year high of $84.53. The company’s 50 day moving average is $79.48 and its 200 day moving average is $77.03.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The company had revenue of $6.47 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Arrow Electronics will post $7.32 earnings per share for the current fiscal year.

In related news, Chairman Michael J. Long sold 20,910 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the completion of the transaction, the chairman now owns 346,486 shares of the company’s stock, valued at approximately $26,336,400.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean J. Kerins sold 4,477 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $77.16, for a total value of $345,445.32. Following the transaction, the insider now directly owns 26,213 shares of the company’s stock, valued at approximately $2,022,595.08. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Eqis Capital Management Inc. lifted its position in shares of Arrow Electronics by 7.0% during the 3rd quarter. Eqis Capital Management Inc. now owns 13,883 shares of the technology company’s stock worth $1,116,000 after purchasing an additional 906 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Arrow Electronics by 489.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock worth $110,000 after purchasing an additional 1,170 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Arrow Electronics by 0.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 41,786 shares of the technology company’s stock worth $3,276,000 after purchasing an additional 371 shares during the last quarter. Cypress Capital Management LLC lifted its position in shares of Arrow Electronics by 32.8% during the 2nd quarter. Cypress Capital Management LLC now owns 8,277 shares of the technology company’s stock worth $649,000 after purchasing an additional 2,045 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Arrow Electronics by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,120 shares of the technology company’s stock worth $10,282,000 after purchasing an additional 2,312 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

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About Arrow Electronics

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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