Arrow Electronics Inc. (NYSE:ARW) received a $70.00 price objective from equities research analysts at Brean Capital in a report released on Sunday. The firm presently has a “buy” rating on the stock. Brean Capital’s price objective indicates a potential upside of 2.44% from the stock’s previous close.
A number of other brokerages also recently commented on ARW. restated an “outperform” rating on shares of Arrow Electronics in a research note on Friday, November 4th. Goldman Sachs Group Inc. downgraded Arrow Electronics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $72.00 to $63.00 in a research report on Tuesday, September 20th. Finally, Citigroup Inc. boosted their price objective on Arrow Electronics from $48.00 to $57.00 and gave the stock a “sell” rating in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $63.33.
Arrow Electronics (NYSE:ARW) traded up 0.80% during trading on Friday, reaching $68.33. The company’s stock had a trading volume of 179,094 shares. The firm has a 50-day moving average price of $63.12 and a 200-day moving average price of $64.02. Arrow Electronics has a 52 week low of $45.23 and a 52 week high of $68.58. The firm has a market capitalization of $6.12 billion, a P/E ratio of 12.28 and a beta of 1.23.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, November 3rd. The company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.05. Arrow Electronics had a return on equity of 13.95% and a net margin of 2.14%. The company earned $5.94 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. Arrow Electronics’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Arrow Electronics will post $6.63 EPS for the current fiscal year.
In other Arrow Electronics news, insider Sean J. Kerins sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $62.00, for a total value of $248,000.00. Following the completion of the sale, the insider now directly owns 20,609 shares in the company, valued at $1,277,758. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in Arrow Electronics by 8.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 30,333 shares of the company’s stock valued at $1,940,000 after buying an additional 2,350 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Arrow Electronics by 201.6% in the third quarter. Ameritas Investment Partners Inc. now owns 43,703 shares of the company’s stock valued at $2,795,000 after buying an additional 29,214 shares in the last quarter. Robecosam AG boosted its position in Arrow Electronics by 70.0% in the third quarter. Robecosam AG now owns 3,400 shares of the company’s stock valued at $215,000 after buying an additional 1,400 shares in the last quarter. Dean Investment Associates LLC boosted its position in Arrow Electronics by 1.3% in the third quarter. Dean Investment Associates LLC now owns 7,904 shares of the company’s stock valued at $506,000 after buying an additional 100 shares in the last quarter. Finally, Gerstein Fisher boosted its position in Arrow Electronics by 1.2% in the third quarter. Gerstein Fisher now owns 22,232 shares of the company’s stock valued at $1,422,000 after buying an additional 260 shares in the last quarter. 94.49% of the stock is currently owned by institutional investors.
Arrow Electronics Company Profile