Analysts Set Arrow Electronics, Inc. (ARW) Target Price at $77.17
Shares of Arrow Electronics, Inc. (NYSE:ARW) have received an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $76.00.
A number of equities analysts have recently commented on ARW shares. Stifel Nicolaus lifted their target price on Arrow Electronics from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Zacks Investment Research cut Arrow Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. BidaskClub cut Arrow Electronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $81.00 target price (up previously from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th.
Shares of Arrow Electronics (NYSE:ARW) traded up 0.81% on Wednesday, reaching $76.93. 569,320 shares of the company were exchanged. The stock’s 50-day moving average is $79.07 and its 200 day moving average is $75.52. Arrow Electronics has a 12-month low of $58.52 and a 12-month high of $84.53. The firm has a market capitalization of $6.79 billion, a PE ratio of 14.07 and a beta of 1.13.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.01. The firm had revenue of $6.47 billion during the quarter, compared to analysts’ expectations of $6.23 billion. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. On average, analysts forecast that Arrow Electronics will post $7.32 EPS for the current year.
In related news, Chairman Michael J. Long sold 20,910 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the completion of the sale, the chairman now directly owns 346,486 shares of the company’s stock, valued at approximately $26,336,400.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of ARW. Advisory Services Network LLC raised its stake in shares of Arrow Electronics by 489.5% in the second quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock worth $110,000 after buying an additional 1,170 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Arrow Electronics by 0.9% in the second quarter. Ameritas Investment Partners Inc. now owns 41,786 shares of the technology company’s stock worth $3,276,000 after buying an additional 371 shares in the last quarter. Cypress Capital Management LLC raised its stake in shares of Arrow Electronics by 32.8% in the second quarter. Cypress Capital Management LLC now owns 8,277 shares of the technology company’s stock worth $649,000 after buying an additional 2,045 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Arrow Electronics by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 131,120 shares of the technology company’s stock worth $10,282,000 after buying an additional 2,312 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Arrow Electronics by 79.4% in the second quarter. Janus Henderson Group PLC now owns 19,260 shares of the technology company’s stock worth $1,510,000 after buying an additional 8,526 shares in the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.
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Arrow Electronics Company Profile
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.
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