Arrow Electronics (NYSE:ARW) Reaches New 12-Month Low – What’s Next?

Shares of Arrow Electronics, Inc. (NYSE:ARW) reached a new 52-week low on Wednesday . The stock traded as low as $103.33 and last traded at $103.62, with a volume of 53889 shares trading hands. The stock had previously closed at $104.62.

Analyst Ratings Changes

A number of research firms have commented on ARW. Bank of America downgraded shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company cut their target price on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $121.25.

Arrow Electronics Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.46. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 0.52 and a beta of 1.26. The company’s fifty day moving average is $111.87 and its two-hundred day moving average is $120.57.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%. On average, research analysts anticipate that Arrow Electronics, Inc. will post 10.57 EPS for the current year.

Insider Activity

In related news, CAO Yun Sung Cho sold 353 shares of Arrow Electronics stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $112.11, for a total value of $39,574.83. Following the completion of the transaction, the chief accounting officer now owns 1,549 shares in the company, valued at $173,658.39. The trade was a 18.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Arrow Electronics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Atria Investments Inc increased its holdings in Arrow Electronics by 36.7% in the 3rd quarter. Atria Investments Inc now owns 4,433 shares of the technology company’s stock worth $589,000 after acquiring an additional 1,190 shares in the last quarter. Covestor Ltd increased its stake in Arrow Electronics by 14.0% during the 3rd quarter. Covestor Ltd now owns 1,064 shares of the technology company’s stock worth $141,000 after buying an additional 131 shares in the last quarter. Meritage Portfolio Management raised its holdings in shares of Arrow Electronics by 9.0% during the third quarter. Meritage Portfolio Management now owns 2,169 shares of the technology company’s stock valued at $288,000 after acquiring an additional 180 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Arrow Electronics in the third quarter valued at approximately $267,000. Finally, Versor Investments LP boosted its stake in shares of Arrow Electronics by 114.4% in the third quarter. Versor Investments LP now owns 9,575 shares of the technology company’s stock worth $1,272,000 after acquiring an additional 5,109 shares during the last quarter. 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.