Arrow Electronics (NYSE:ARW) Stock Rating Lowered by Wall Street Zen

Arrow Electronics (NYSE:ARW) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Friday.

Separately, Bank of America increased their price target on shares of Arrow Electronics from $105.00 to $110.00 and gave the stock an “underperform” rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $115.75.

Arrow Electronics Price Performance

Shares of NYSE ARW opened at $130.36 on Friday. The firm has a market cap of $6.76 billion, a PE ratio of 17.96, a PEG ratio of 0.65 and a beta of 1.10. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. Arrow Electronics has a 1-year low of $86.50 and a 1-year high of $137.80. The company has a fifty day moving average price of $124.80 and a 200 day moving average price of $114.28.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.33. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.32 billion. Arrow Electronics had a net margin of 1.40% and a return on equity of 8.97%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.41 EPS. Research analysts predict that Arrow Electronics will post 10.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrow Electronics

In other news, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total transaction of $331,542.40. Following the completion of the transaction, the senior vice president directly owned 17,057 shares in the company, valued at $2,125,984.48. This trade represents a 13.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Nowak sold 4,952 shares of Arrow Electronics stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $122.39, for a total transaction of $606,075.28. Following the transaction, the insider owned 43,895 shares of the company’s stock, valued at $5,372,309.05. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,070 shares of company stock valued at $1,116,062. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in Arrow Electronics by 33.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,864 shares of the technology company’s stock worth $1,232,000 after acquiring an additional 2,982 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Arrow Electronics by 111.7% in the 1st quarter. Golden State Wealth Management LLC now owns 379 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Arrow Electronics in the 1st quarter valued at $356,000. GAMMA Investing LLC boosted its position in Arrow Electronics by 201.3% during the 1st quarter. GAMMA Investing LLC now owns 2,597 shares of the technology company’s stock valued at $270,000 after buying an additional 1,735 shares during the period. Finally, Edgestream Partners L.P. boosted its position in Arrow Electronics by 99.5% during the 1st quarter. Edgestream Partners L.P. now owns 115,474 shares of the technology company’s stock valued at $11,990,000 after buying an additional 57,590 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.