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

Shares of Arrow Electronics, Inc. (NYSE:ARW) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $84.39.

ARW has been the subject of several recent research reports. Citigroup upgraded Arrow Electronics from a “sell” rating to a “neutral” rating in a report on Friday, October 26th. ValuEngine upgraded Arrow Electronics from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. Stifel Nicolaus downgraded Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 price target for the company. in a report on Friday. Finally, Zacks Investment Research downgraded Arrow Electronics from a “hold” rating to a “sell” rating in a report on Friday, October 26th.

In other Arrow Electronics news, insider Charles Kostalnick II sold 700 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $74.37, for a total value of $52,059.00. Following the completion of the transaction, the insider now owns 12,780 shares in the company, valued at approximately $950,448.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Catherine Morris sold 13,016 shares of the company’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $75.00, for a total value of $976,200.00. Following the completion of the transaction, the insider now owns 26,093 shares of the company’s stock, valued at approximately $1,956,975. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its position in shares of Arrow Electronics by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 9,239 shares of the technology company’s stock valued at $637,000 after buying an additional 179 shares during the last quarter. Daiwa SB Investments Ltd. lifted its position in shares of Arrow Electronics by 12.3% during the 4th quarter. Daiwa SB Investments Ltd. now owns 2,740 shares of the technology company’s stock valued at $189,000 after buying an additional 300 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Arrow Electronics by 8.5% during the 4th quarter. IFM Investors Pty Ltd now owns 5,061 shares of the technology company’s stock valued at $349,000 after buying an additional 398 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Arrow Electronics by 2.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,132 shares of the technology company’s stock valued at $1,043,000 after buying an additional 417 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in shares of Arrow Electronics during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Shares of NYSE:ARW traded up $0.44 during trading on Wednesday, reaching $76.31. 3,096 shares of the stock were exchanged, compared to its average volume of 432,593. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Arrow Electronics has a 1-year low of $62.69 and a 1-year high of $83.71. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.95 and a beta of 1.16.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, November 1st. The technology company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.02. Arrow Electronics had a return on equity of 15.12% and a net margin of 1.84%. The company had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. Arrow Electronics’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Arrow Electronics will post 8.82 earnings per share for the current fiscal year.

Arrow Electronics declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 12th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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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