Arrow Electronics, Inc. (NYSE:ARW) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $116.20 and last traded at $115.97, with a volume of 1648 shares traded. The stock had previously closed at $115.69.
Separately, Citigroup raised their price objective on Arrow Electronics from $85.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, February 5th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.89.
The stock has a market capitalization of $8.58 billion, a PE ratio of 20.03, a PEG ratio of 1.17 and a beta of 1.55. The company has a 50 day moving average price of $107.10 and a 200-day moving average price of $96.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.47 and a quick ratio of 1.06.
Arrow Electronics (NYSE:ARW) last released its earnings results on Wednesday, February 3rd. The technology company reported $3.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.67 by $0.50. Arrow Electronics had a return on equity of 11.49% and a net margin of 1.67%. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $7.72 billion. During the same period in the previous year, the company posted $2.20 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities analysts anticipate that Arrow Electronics, Inc. will post 7.26 earnings per share for the current year.
In other Arrow Electronics news, SVP Gretchen Zech sold 44,092 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $104.76, for a total transaction of $4,619,077.92. Also, insider Mary Catherine Morris sold 57,234 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $105.64, for a total value of $6,046,199.76. In the last three months, insiders sold 260,096 shares of company stock worth $27,040,958. 1.60% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of ARW. Inspire Advisors LLC bought a new stake in shares of Arrow Electronics during the 4th quarter worth approximately $26,000. Perigon Wealth Management LLC purchased a new position in shares of Arrow Electronics in the 4th quarter valued at $62,000. Private Capital Group LLC grew its stake in Arrow Electronics by 14.3% during the 4th quarter. Private Capital Group LLC now owns 865 shares of the technology company’s stock worth $84,000 after buying an additional 108 shares during the last quarter. Hoey Investments Inc. purchased a new position in Arrow Electronics during the 4th quarter worth $99,000. Finally, Islay Capital Management LLC purchased a new position in Arrow Electronics during the 4th quarter worth $118,000. 94.54% of the stock is owned by hedge funds and other institutional investors.
Arrow Electronics Company Profile (NYSE:ARW)
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.
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