Deutsche Bank AG restated their hold rating on shares of Arrow Electronics, Inc. (NYSE:ARW) in a report published on Wednesday morning. They currently have a $81.00 target price on the technology company’s stock, up from their previous target price of $76.00.
Other research analysts have also issued research reports about the company. Stifel Nicolaus raised their target price on Arrow Electronics from $80.00 to $84.00 and gave the company a buy rating in a report on Friday, May 5th. Zacks Investment Research lowered Arrow Electronics from a buy rating to a hold rating in a report on Tuesday, May 9th. Finally, BidaskClub lowered Arrow Electronics from a buy rating to a hold rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Arrow Electronics currently has a consensus rating of Buy and a consensus target price of $77.17.
Arrow Electronics (NYSE:ARW) traded down 0.15% on Wednesday, hitting $75.30. The company’s stock had a trading volume of 296,041 shares. Arrow Electronics has a 12 month low of $58.52 and a 12 month high of $84.53. The stock has a market cap of $6.65 billion, a PE ratio of 13.77 and a beta of 1.13. The firm has a 50 day moving average of $80.00 and a 200-day moving average of $75.37.
Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, beating the Zacks’ 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 last year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts expect that Arrow Electronics will post $7.32 earnings per share for the current fiscal year.
In related news, insider Sean J. Kerins sold 3,000 shares of Arrow Electronics stock in a transaction on Monday, May 15th. The stock was sold at an average price of $75.99, for a total transaction of $227,970.00. Following the sale, the insider now directly owns 21,736 shares in the company, valued at $1,651,718.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mary Catherine Morris sold 9,692 shares of Arrow Electronics stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $75.07, for a total value of $727,578.44. Following the sale, the insider now owns 21,570 shares in the company, valued at $1,619,259.90. The disclosure for this sale can be found here. Insiders have sold 18,452 shares of company stock worth $1,392,099 over the last quarter. 1.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its stake in Arrow Electronics by 776.0% in the second 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. increased its stake in Arrow Electronics by 11.0% in the first 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 increased its stake in Arrow Electronics by 87.2% in the first 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. Advisor Partners LLC purchased a new stake in Arrow Electronics during the first quarter worth about $200,000. Finally, Parametrica Management Ltd purchased a new stake in Arrow Electronics during the first quarter worth about $208,000. 94.45% of the stock is 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.
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