TheStreet upgraded shares of Arrow Electronics (NYSE:ARW) from a c+ rating to a b- rating in a research note issued to investors on Friday, TheStreetRatingsTable reports.
Several other analysts have also weighed in on the company. Stifel Nicolaus set a $75.00 price objective on Arrow Electronics and gave the company a hold rating in a report on Friday, November 1st. SunTrust Banks lifted their target price on Arrow Electronics from $70.00 to $84.00 and gave the stock a hold rating in a research report on Monday, November 4th. Raymond James reiterated a buy rating and issued a $87.00 target price (up previously from $80.00) on shares of Arrow Electronics in a research report on Friday, November 1st. Bank of America set a $70.00 price target on Arrow Electronics and gave the company a sell rating in a report on Friday, November 1st. Finally, Citigroup upped their price target on Arrow Electronics from $68.00 to $73.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Arrow Electronics has an average rating of Hold and a consensus price target of $77.86.
ARW stock opened at $79.85 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $78.90 and a 200-day simple moving average of $72.11. The company has a market capitalization of $6.49 billion, a P/E ratio of 9.04, a PEG ratio of 10.69 and a beta of 1.36. Arrow Electronics has a twelve month low of $62.35 and a twelve month high of $86.62.
In related news, Director Gail Hamilton sold 1,950 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $157,170.00. Also, SVP Gretchen Zech sold 12,453 shares of Arrow Electronics stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $81.57, for a total transaction of $1,015,791.21. Following the completion of the sale, the senior vice president now owns 17,512 shares in the company, valued at $1,428,453.84. The disclosure for this sale can be found here. In the last three months, insiders sold 77,225 shares of company stock worth $6,227,396. Company insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Mercantile Trust Co. acquired a new stake in shares of Arrow Electronics in the third quarter valued at approximately $44,000. Advisory Services Network LLC raised its holdings in shares of Arrow Electronics by 199.5% during the second quarter. Advisory Services Network LLC now owns 608 shares of the technology company’s stock valued at $43,000 after buying an additional 405 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Arrow Electronics during the second quarter worth approximately $66,000. Signaturefd LLC boosted its position in shares of Arrow Electronics by 21.7% during the second quarter. Signaturefd LLC now owns 1,584 shares of the technology company’s stock worth $113,000 after buying an additional 282 shares during the period. Finally, Advisor Group Inc. boosted its position in shares of Arrow Electronics by 11.4% during the second quarter. Advisor Group Inc. now owns 2,506 shares of the technology company’s stock worth $178,000 after buying an additional 257 shares during the period. Hedge funds and other institutional investors own 93.87% of the company’s stock.
About Arrow Electronics
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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