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

Shares of Arrow Electronics, Inc. (NYSE:ARW) have received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $80.25.

ARW has been the topic of several analyst reports. Deutsche Bank began coverage on Arrow Electronics in a research report on Tuesday, June 11th. They set a “buy” rating and a $83.00 target price on the stock. Cross Research cut Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Bank of America cut Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price objective on the stock. in a research report on Monday, May 6th. ValuEngine cut Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Zacks Investment Research cut Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th.

Shares of NYSE:ARW opened at $71.27 on Friday. The stock has a market capitalization of $6.04 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 3.06 and a beta of 1.35. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.74. Arrow Electronics has a 12-month low of $62.35 and a 12-month high of $86.62. The firm’s 50 day moving average is $67.48.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by ($0.06). The company had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Arrow Electronics had a net margin of 2.40% and a return on equity of 14.46%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. As a group, analysts anticipate that Arrow Electronics will post 8.52 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB raised its stake in shares of Arrow Electronics by 103.8% in the first quarter. Nordea Investment Management AB now owns 213,111 shares of the technology company’s stock valued at $16,421,000 after buying an additional 108,558 shares during the period. Cerebellum GP LLC bought a new stake in shares of Arrow Electronics in the first quarter valued at $324,000. Andra AP fonden bought a new stake in shares of Arrow Electronics in the first quarter valued at $6,820,000. Trexquant Investment LP bought a new stake in shares of Arrow Electronics in the first quarter valued at $1,440,000. Finally, State of Tennessee Treasury Department raised its stake in shares of Arrow Electronics by 111.0% in the first quarter. State of Tennessee Treasury Department now owns 57,030 shares of the technology company’s stock valued at $4,395,000 after buying an additional 30,000 shares during the period. 93.08% of the stock is currently owned by institutional investors and hedge funds.

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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