Arrow Electronics (NYSE:ARW) Sets New 12-Month Low – Should You Sell?

Arrow Electronics, Inc. (NYSE:ARW) reached a new 52-week low during trading on Thursday . The stock traded as low as $105.00 and last traded at $108.20, with a volume of 153601 shares trading hands. The stock had previously closed at $114.91.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ARW. Wells Fargo & Company cut their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a research report on Friday. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday. Raymond James lowered their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Truist Financial decreased their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Arrow Electronics currently has an average rating of “Hold” and a consensus price target of $121.25.

Arrow Electronics Stock Down 2.3 %

The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $116.32 and a two-hundred day simple moving average of $123.50. The firm has a market capitalization of $5.63 billion, a P/E ratio of 11.96 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. On average, equities analysts predict that Arrow Electronics, Inc. will post 10.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its holdings in shares of Arrow Electronics by 2.6% in the fourth quarter. HighTower Advisors LLC now owns 18,975 shares of the technology company’s stock worth $2,146,000 after buying an additional 474 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of Arrow Electronics in the fourth quarter worth about $1,758,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Arrow Electronics by 17.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,654 shares of the technology company’s stock valued at $1,431,000 after purchasing an additional 1,862 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in Arrow Electronics in the 4th quarter worth approximately $25,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Arrow Electronics during the 4th quarter valued at about $6,548,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

About Arrow Electronics

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.