Arrow Electronics, Inc. (NYSE:ARW)‘s stock had its “buy” rating reiterated by equities researchers at Stifel Nicolaus in a note issued to investors on Tuesday. They currently have a $86.00 price objective on the technology company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.23% from the stock’s current price.

Several other research firms have also weighed in on ARW. Deutsche Bank AG restated a “hold” rating and set a $81.00 price target (up previously from $76.00) on shares of Arrow Electronics in a report on Wednesday, August 9th. BidaskClub lowered Arrow Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $76.67.

Arrow Electronics (ARW) opened at 78.73 on Tuesday. The stock has a 50 day moving average of $78.12 and a 200 day moving average of $75.96. The company has a market cap of $6.95 billion, a PE ratio of 14.40 and a beta of 1.12. Arrow Electronics has a one year low of $58.51 and a one year high of $84.53.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.01. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The company had revenue of $6.47 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. Arrow Electronics’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Arrow Electronics will post $7.32 earnings per share for the current fiscal year.

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In other news, insider Sean J. Kerins sold 4,477 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $77.16, for a total transaction of $345,445.32. Following the transaction, the insider now owns 26,213 shares of the company’s stock, valued at approximately $2,022,595.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael J. Long sold 20,910 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $76.01, for a total value of $1,589,369.10. Following the transaction, the chairman now directly owns 346,486 shares in the company, valued at approximately $26,336,400.86. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC grew its position in shares of Arrow Electronics by 489.5% during the 2nd 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. NEXT Financial Group Inc grew its position in shares of Arrow Electronics by 776.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock worth $172,000 after buying an additional 1,940 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Arrow Electronics by 11.0% during the 1st quarter. Meeder Asset Management Inc. now owns 2,564 shares of the technology company’s stock worth $188,000 after buying an additional 255 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Arrow Electronics by 87.2% during the 1st quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock worth $197,000 after buying an additional 1,248 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of Arrow Electronics during the 1st quarter worth $213,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Arrow Electronics (NYSE:ARW)

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