Arrow Electronics, Inc. (NYSE:ARW) Given Consensus Rating of “Hold” by Brokerages

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Arrow Electronics, Inc. (NYSE:ARW) has been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $77.17.

Several equities research analysts recently commented on the stock. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 16th. Zacks Investment Research lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price target on the stock. in a research note on Wednesday, July 3rd. ValuEngine upgraded shares of Arrow Electronics from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Deutsche Bank assumed coverage on shares of Arrow Electronics in a research note on Tuesday, June 11th. They set a “buy” rating and a $83.00 price target on the stock. Finally, TheStreet lowered shares of Arrow Electronics from a “b-” rating to a “c” rating in a research note on Friday, August 2nd.

Shares of ARW opened at $76.09 on Thursday. Arrow Electronics has a twelve month low of $62.35 and a twelve month high of $86.62. The firm’s fifty day simple moving average is $70.25 and its 200-day simple moving average is $72.94. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 2.47 and a beta of 1.38. The company has a current ratio of 1.64, a quick ratio of 1.15 and a debt-to-equity ratio of 0.65.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. Arrow Electronics’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that Arrow Electronics will post 7.25 earnings per share for the current fiscal year.

In other Arrow Electronics news, insider Charles Kostalnick II sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $68.11, for a total transaction of $217,952.00. Following the transaction, the insider now directly owns 8,214 shares of the company’s stock, valued at approximately $559,455.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher Stansbury sold 57,550 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $68.87, for a total transaction of $3,963,468.50. Following the transaction, the chief financial officer now directly owns 32,481 shares in the company, valued at $2,236,966.47. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of ARW. Geode Capital Management LLC grew its position in Arrow Electronics by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 918,201 shares of the technology company’s stock worth $63,269,000 after purchasing an additional 86,631 shares during the last quarter. SG Americas Securities LLC grew its position in Arrow Electronics by 27.4% during the 1st quarter. SG Americas Securities LLC now owns 10,690 shares of the technology company’s stock worth $824,000 after purchasing an additional 2,299 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Arrow Electronics by 3.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,588 shares of the technology company’s stock worth $1,201,000 after purchasing an additional 456 shares during the last quarter. Janus Henderson Group PLC grew its position in Arrow Electronics by 3.0% during the 1st quarter. Janus Henderson Group PLC now owns 26,233 shares of the technology company’s stock worth $2,022,000 after purchasing an additional 755 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Arrow Electronics by 2.9% in the first quarter. Crossmark Global Holdings Inc. now owns 11,095 shares of the technology company’s stock valued at $855,000 after acquiring an additional 310 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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Analyst Recommendations for Arrow Electronics (NYSE:ARW)

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