ValuEngine Upgrades Arrow Electronics (ARW) to “Hold”

Arrow Electronics (NYSE:ARW) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday.

ARW has been the topic of several other reports. Citigroup lifted their price objective on shares of Arrow Electronics from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. Wells Fargo & Co assumed coverage on shares of Arrow Electronics in a research report on Tuesday, July 17th. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Tuesday, July 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.00.

Arrow Electronics stock opened at $74.54 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16. Arrow Electronics has a 1 year low of $64.04 and a 1 year high of $87.26.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.02. Arrow Electronics had a net margin of 1.84% and a return on equity of 15.12%. The firm had revenue of $7.49 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same period in the previous year, the company posted $1.82 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts predict that Arrow Electronics will post 8.82 earnings per share for the current year.

In other Arrow Electronics news, insider Vincent P. Melvin sold 2,000 shares of Arrow Electronics stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $78.10, for a total transaction of $156,200.00. Following the transaction, the insider now directly owns 16,371 shares in the company, valued at approximately $1,278,575.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles Kostalnick II sold 700 shares of Arrow Electronics stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $74.37, for a total transaction of $52,059.00. Following the transaction, the insider now owns 12,780 shares in the company, valued at $950,448.60. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Korea Investment CORP boosted its stake in shares of Arrow Electronics by 84.2% during the 2nd quarter. Korea Investment CORP now owns 105,421 shares of the technology company’s stock valued at $7,936,000 after buying an additional 48,200 shares during the period. Strs Ohio boosted its stake in shares of Arrow Electronics by 642.3% during the 2nd quarter. Strs Ohio now owns 7,646 shares of the technology company’s stock valued at $575,000 after buying an additional 6,616 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Arrow Electronics by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 412,612 shares of the technology company’s stock valued at $31,062,000 after buying an additional 9,409 shares during the period. NumerixS Investment Technologies Inc boosted its stake in shares of Arrow Electronics by 126.7% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the technology company’s stock valued at $255,000 after buying an additional 1,900 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Arrow Electronics by 2.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 52,868 shares of the technology company’s stock valued at $3,980,000 after buying an additional 1,469 shares during the period. Hedge funds and other institutional investors own 92.78% 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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