Arrow Electronics, Inc. (NYSE:ARW) insider Charles Kostalnick II sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $68.11, for a total transaction of $217,952.00. Following the completion of the sale, the insider now directly owns 8,214 shares in the company, valued at $559,455.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of ARW stock opened at $68.66 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.15 and a current ratio of 1.64. The stock has a market capitalization of $5.69 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 2.21 and a beta of 1.39. The company has a 50 day moving average price of $69.34 and a 200 day moving average price of $74.03. Arrow Electronics, Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $86.62.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. On average, research analysts forecast that Arrow Electronics, Inc. will post 7.25 EPS for the current fiscal year.
A number of research analysts recently weighed in on ARW shares. Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 16th. Zacks Investment Research cut 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. TheStreet cut shares of Arrow Electronics from a “b-” rating to a “c” rating in a report on Friday, August 2nd. Citigroup lifted their price objective on shares of Arrow Electronics from $68.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, ValuEngine upgraded shares of Arrow Electronics from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $77.02.
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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