Arrow Electronics, Inc. (NYSE:ARW) Receives Average Recommendation of “Hold” from Brokerages

Arrow Electronics, Inc. (NYSE:ARW) has been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $76.33.

ARW has been the subject of several research reports. ValuEngine raised shares of Arrow Electronics from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 16th. Raymond James lowered shares of Arrow Electronics from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $88.00 to $80.00 in a report on Tuesday, July 2nd. Citigroup decreased their price target on shares of Arrow Electronics from $76.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Finally, Deutsche Bank initiated coverage on shares of Arrow Electronics in a report on Tuesday, June 11th. They issued a “buy” rating and a $83.00 price target for the company.

Shares of NYSE ARW traded down $0.02 during midday trading on Wednesday, hitting $72.61. The company’s stock had a trading volume of 1,065,396 shares, compared to its average volume of 579,133. Arrow Electronics has a 1-year low of $62.35 and a 1-year high of $86.62. The business has a fifty day simple moving average of $69.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.74. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 3.59 and a beta of 1.39.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by ($0.06). Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The business had revenue of $7.16 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period last year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Arrow Electronics will post 7.43 EPS for the current year.

A number of institutional investors have recently bought and sold shares of ARW. Norges Bank acquired a new position in Arrow Electronics during the 4th quarter valued at about $49,210,000. AJO LP acquired a new position in Arrow Electronics during the 1st quarter valued at about $12,048,000. State of Wisconsin Investment Board acquired a new position in Arrow Electronics during the 1st quarter valued at about $10,714,000. DNB Asset Management AS boosted its stake in Arrow Electronics by 18.0% during the 2nd quarter. DNB Asset Management AS now owns 880,815 shares of the technology company’s stock valued at $62,776,000 after purchasing an additional 134,600 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Arrow Electronics by 385.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 149,187 shares of the technology company’s stock valued at $11,496,000 after purchasing an additional 118,482 shares during the period. 93.12% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: What is the float in trading stocks?

Analyst Recommendations for Arrow Electronics (NYSE:ARW)

Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.