Arrow Electronics, Inc. (NYSE:ARW) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Several other equities research analysts also recently weighed in on the stock. Deutsche Bank AG reaffirmed a “hold” rating and issued a $81.00 price target (up from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus lifted their price target on shares of Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $77.17.

Arrow Electronics (NYSE:ARW) opened at 76.43 on Tuesday. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 13.98 and a beta of 1.13. Arrow Electronics has a 52 week low of $58.51 and a 52 week high of $84.53. The company has a 50-day moving average of $79.92 and a 200-day moving average of $75.42.

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

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In other news, insider Mary Catherine Morris sold 9,692 shares of Arrow Electronics stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $75.07, for a total transaction of $727,578.44. Following the completion of the transaction, the insider now directly owns 21,570 shares in the company, valued at $1,619,259.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael J. Long sold 20,910 shares of Arrow Electronics stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the transaction, the chairman now owns 346,486 shares of the company’s stock, valued at $26,336,400.86. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ARW. Janus Henderson Group PLC boosted its position 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. Shelton Capital Management acquired a new position in shares of Arrow Electronics during the second quarter worth about $532,000. Flinton Capital Management LLC boosted its position in shares of Arrow Electronics by 36.6% in the second quarter. Flinton Capital Management LLC now owns 6,208 shares of the technology company’s stock worth $487,000 after buying an additional 1,664 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Arrow Electronics by 11.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,373,934 shares of the technology company’s stock worth $107,744,000 after buying an additional 144,908 shares in the last quarter. Finally, Employees Retirement System of Texas boosted its position in shares of Arrow Electronics by 75.0% in the second quarter. Employees Retirement System of Texas now owns 70,000 shares of the technology company’s stock worth $5,489,000 after buying an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

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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