Shares of Arrow Electronics, Inc. (NYSE:ARW) have been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $77.17.

A number of brokerages have issued reports on ARW. Raymond James lowered shares of Arrow Electronics from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $88.00 to $80.00 in a report on Tuesday, July 2nd. Cross Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Zacks Investment Research lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price objective for the company. in a report on Wednesday, July 3rd. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 16th. Finally, ValuEngine raised shares of Arrow Electronics from a “sell” rating to a “hold” rating in a report on Monday, July 22nd.

ARW traded down $0.33 during trading on Monday, reaching $73.89. 538,320 shares of the company traded hands, compared to its average volume of 600,640. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.15 and a current ratio of 1.64. Arrow Electronics has a 12-month low of $62.35 and a 12-month high of $86.62. The firm has a fifty day simple moving average of $72.94 and a 200 day simple moving average of $72.35. The company has a market cap of $6.08 billion, a P/E ratio of 8.37, a PEG ratio of 10.09 and a beta of 1.36.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period last year, the business earned $2.20 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that Arrow Electronics will post 7.25 earnings per share for the current fiscal year.

In other news, insider Charles Kostalnick II sold 3,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $68.11, for a total transaction of $217,952.00. Following the completion of the transaction, the insider now directly owns 8,214 shares in the company, valued at approximately $559,455.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher Stansbury sold 57,550 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $68.87, for a total value of $3,963,468.50. Following the transaction, the chief financial officer now owns 32,481 shares of the company’s stock, valued at $2,236,966.47. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Arrow Electronics by 140.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,350 shares of the technology company’s stock valued at $3,874,000 after acquiring an additional 31,775 shares during the last quarter. Andra AP fonden bought a new position in shares of Arrow Electronics during the 1st quarter valued at approximately $6,820,000. Prudential Financial Inc. boosted its position in shares of Arrow Electronics by 35.7% during the 2nd quarter. Prudential Financial Inc. now owns 537,634 shares of the technology company’s stock valued at $38,318,000 after acquiring an additional 141,520 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Arrow Electronics by 6.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 119,008 shares of the technology company’s stock valued at $8,482,000 after acquiring an additional 6,859 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Arrow Electronics by 19.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,840 shares of the technology company’s stock valued at $1,129,000 after acquiring an additional 2,626 shares during the last quarter. Hedge funds and other institutional investors own 94.71% of the company’s stock.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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Analyst Recommendations for Arrow Electronics (NYSE:ARW)

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