Brokerages Set Arrow Electronics Inc. (ARW) PT at $62.20
Shares of Arrow Electronics Inc. (NYSE:ARW) have earned an average recommendation of “Hold” from the nine brokerages that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $62.20.
ARW has been the subject of a number of recent research reports. Credit Agricole SA reiterated an “outperform” rating on shares of Arrow Electronics in a report on Friday, November 4th. Brean Capital set a $70.00 target price on Arrow Electronics and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. cut Arrow Electronics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $72.00 to $63.00 in a report on Tuesday, September 20th. Finally, Citigroup Inc. lifted their target price on Arrow Electronics from $48.00 to $57.00 and gave the stock a “sell” rating in a report on Wednesday, August 3rd.
Arrow Electronics (NYSE:ARW) opened at 65.90 on Wednesday. The firm has a 50-day moving average price of $62.65 and a 200-day moving average price of $63.75. Arrow Electronics has a 12-month low of $45.23 and a 12-month high of $68.07. The company has a market cap of $5.90 billion, a P/E ratio of 11.84 and a beta of 1.23.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, November 3rd. The company reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.05. The firm earned $5.94 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Arrow Electronics had a return on equity of 13.95% and a net margin of 2.14%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 EPS. On average, equities research analysts forecast that Arrow Electronics will post $6.63 earnings per share 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 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 approximately $1,277,758. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Arrow Electronics by 4.2% in the second quarter. Vanguard Group Inc. now owns 6,978,768 shares of the company’s stock valued at $431,986,000 after buying an additional 280,549 shares in the last quarter. Boston Partners raised its position in Arrow Electronics by 6.6% in the second quarter. Boston Partners now owns 5,826,500 shares of the company’s stock valued at $360,660,000 after buying an additional 358,680 shares during the last quarter. State Street Corp raised its position in Arrow Electronics by 2.2% in the second quarter. State Street Corp now owns 3,445,794 shares of the company’s stock valued at $213,297,000 after buying an additional 74,361 shares during the last quarter. BlackRock Fund Advisors raised its position in Arrow Electronics by 4.2% in the third quarter. BlackRock Fund Advisors now owns 3,314,724 shares of the company’s stock valued at $212,043,000 after buying an additional 132,146 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Arrow Electronics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,145,366 shares of the company’s stock valued at $194,686,000 after buying an additional 108,856 shares during the last quarter. Institutional investors and hedge funds own 94.49% of the company’s stock.
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 electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.
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