Arrow Electronics, Inc. (ARW) Price Target Raised to $84.00
Arrow Electronics, Inc. (NYSE:ARW) had its price objective increased by stock analysts at Stifel Nicolaus from $80.00 to $84.00 in a note issued to investors on Friday, May 5th. The brokerage presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 15.05% from the stock’s current price.
Separately, Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, February 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Arrow Electronics presently has an average rating of “Hold” and an average target price of $71.17.
Shares of Arrow Electronics (NYSE:ARW) traded up 1.25% during mid-day trading on Friday, reaching $73.92. 93,827 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $72.91 and a 200 day moving average price of $71.44. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 12.73 and a beta of 1.25. Arrow Electronics has a 12-month low of $58.51 and a 12-month high of $78.23.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, May 4th. The technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. Arrow Electronics had a net margin of 2.19% and a return on equity of 13.73%. The company had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. Arrow Electronics’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Arrow Electronics will post $7.11 EPS for the current fiscal year.
In related news, Chairman Michael J. Long sold 190,865 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $72.14, for a total value of $13,769,001.10. Following the completion of the transaction, the chairman now owns 409,118 shares in the company, valued at $29,513,772.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gretchen Zech sold 9,781 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $77.34, for a total transaction of $756,462.54. Following the completion of the transaction, the senior vice president now owns 17,186 shares of the company’s stock, valued at approximately $1,329,165.24. The disclosure for this sale can be found here. Insiders sold 219,169 shares of company stock valued at $15,917,099 in the last 90 days. Company insiders own 1.50% of the company’s stock.
Several hedge funds have recently modified their holdings of ARW. Meeder Asset Management Inc. increased its stake in shares of Arrow Electronics by 11.0% in the first quarter. Meeder Asset Management Inc. now owns 2,564 shares of the technology company’s stock valued at $188,000 after buying an additional 255 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Arrow Electronics by 87.2% in the first quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock valued at $197,000 after buying an additional 1,248 shares in the last quarter. Advisor Partners LLC bought a new stake in shares of Arrow Electronics during the first quarter valued at $200,000. Cypress Wealth Advisors LLC bought a new stake in shares of Arrow Electronics during the fourth quarter valued at $202,000. Finally, Flinton Capital Management LLC bought a new stake in shares of Arrow Electronics during the fourth quarter valued at $203,000. Institutional investors and hedge funds own 93.74% 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 various electronic components and enterprise computing solutions suppliers.
Receive News & Stock Ratings for Arrow Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics Inc. and related stocks with our FREE daily email newsletter.