Arrow Electronics, Inc. (NYSE:ARW) Receives $78.88 Consensus Target Price from Analysts

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Shares of Arrow Electronics, Inc. (NYSE:ARW) have been assigned an average rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $78.88.

A number of equities analysts recently issued reports on the company. Raymond James reaffirmed a “buy” rating and issued a $87.00 price target (up from $80.00) on shares of Arrow Electronics in a report on Friday, November 1st. SunTrust Banks upped their price target on Arrow Electronics from $70.00 to $84.00 and gave the company a “hold” rating in a report on Monday, November 4th. TheStreet raised Arrow Electronics from a “c+” rating to a “b-” rating in a report on Friday, November 29th. Stifel Nicolaus set a $75.00 price target on Arrow Electronics and gave the company a “hold” rating in a report on Friday, November 1st. Finally, 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.

In other news, CEO Michael J. Long sold 60,122 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.45, for a total value of $4,836,814.90. Following the completion of the sale, the chief executive officer now directly owns 295,071 shares of the company’s stock, valued at $23,738,461.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Arrow Electronics by 15.9% in the second quarter. Royal Bank of Canada now owns 4,858 shares of the technology company’s stock valued at $346,000 after acquiring an additional 668 shares during the period. BlackRock Inc. raised its stake in shares of Arrow Electronics by 1.8% in the second quarter. BlackRock Inc. now owns 8,787,733 shares of the technology company’s stock valued at $626,303,000 after acquiring an additional 159,524 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Arrow Electronics by 61.5% in the third quarter. State of Alaska Department of Revenue now owns 14,784 shares of the technology company’s stock valued at $1,102,000 after acquiring an additional 5,632 shares during the period. Cerebellum GP LLC raised its stake in shares of Arrow Electronics by 22.1% in the third quarter. Cerebellum GP LLC now owns 3,209 shares of the technology company’s stock valued at $239,000 after acquiring an additional 580 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Arrow Electronics by 43.6% in the third quarter. Pacer Advisors Inc. now owns 48,517 shares of the technology company’s stock valued at $3,618,000 after acquiring an additional 14,728 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

ARW traded down $0.02 on Friday, reaching $79.19. The company’s stock had a trading volume of 374,600 shares, compared to its average volume of 563,710. The stock has a 50 day moving average of $81.50 and a two-hundred day moving average of $77.30. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of -33.13, a P/E/G ratio of 2.09 and a beta of 1.37. Arrow Electronics 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 results on Thursday, February 6th. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.03. The firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.34 billion. Arrow Electronics had a positive return on equity of 12.67% and a negative net margin of 0.71%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 earnings per share. As a group, analysts anticipate that Arrow Electronics will post 7.75 earnings per share for the current fiscal year.

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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Analyst Recommendations for Arrow Electronics (NYSE:ARW)

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