Arrow Electronics (NYSE:ARW) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Friday, TheStreetRatingsTable reports.
Other equities research analysts also recently issued research reports about the company. Raymond James restated a “buy” rating and set a $87.00 price objective (up previously from $80.00) on shares of Arrow Electronics in a report on Friday, November 1st. Bank of America set a $70.00 target price on Arrow Electronics and gave the stock a “sell” rating in a report on Friday, November 1st. Citigroup lifted their price target on shares of Arrow Electronics from $68.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. SunTrust Banks boosted their price target on shares of Arrow Electronics from $70.00 to $84.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus set a $75.00 price objective on shares of Arrow Electronics and gave the stock a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $77.86.
Shares of NYSE ARW opened at $79.85 on Friday. The firm has a market capitalization of $6.49 billion, a P/E ratio of 9.04, a P/E/G ratio of 10.69 and a beta of 1.36. The firm’s 50-day moving average price is $78.90 and its 200-day moving average price is $72.11. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Arrow Electronics has a 1-year low of $62.35 and a 1-year high of $86.62.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.19. Arrow Electronics had a positive return on equity of 13.21% and a negative net margin of 0.29%. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.04 billion. During the same period in the previous year, the company posted $2.15 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts forecast that Arrow Electronics will post 7.45 EPS for the current year.
In related news, Director Gail Hamilton sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $80.60, for a total value of $157,170.00. Also, insider Mary Catherine Morris sold 2,700 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $217,620.00. Over the last three months, insiders sold 77,225 shares of company stock valued at $6,227,396. Company insiders own 1.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Arrow Electronics by 140.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,350 shares of the technology company’s stock valued at $3,874,000 after purchasing an additional 31,775 shares during the period. Prudential Financial Inc. boosted its position in shares of Arrow Electronics by 35.7% during the 2nd quarter. Prudential Financial Inc. now owns 537,634 shares of the technology company’s stock valued at $38,318,000 after acquiring an additional 141,520 shares during the last quarter. Pictet Asset Management Ltd. grew its holdings in shares of Arrow Electronics by 6.1% during the second quarter. Pictet Asset Management Ltd. now owns 119,008 shares of the technology company’s stock worth $8,482,000 after purchasing an additional 6,859 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Arrow Electronics by 19.9% during the second quarter. Cubist Systematic Strategies LLC now owns 15,840 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 2,626 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Arrow Electronics by 16.3% in the third quarter. Comerica Bank now owns 58,690 shares of the technology company’s stock worth $4,472,000 after purchasing an additional 8,211 shares during the last quarter. Institutional investors and hedge funds own 93.87% of the company’s stock.
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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