Shares of Arrow Electronics, Inc. (NYSE:ARW) have been given an average recommendation of “Hold” by the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $82.89.
A number of analysts recently weighed in on the stock. SunTrust Banks upped their price target on shares of Arrow Electronics to $84.00 and gave the stock a “hold” rating in a research report on Friday, February 8th. Stifel Nicolaus cut shares of Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 price target for the company. in a research report on Friday, February 1st.
Arrow Electronics stock traded down $3.27 during trading on Thursday, reaching $76.66. 419,050 shares of the company’s stock were exchanged, compared to its average volume of 583,607. The company has a current ratio of 1.55, a quick ratio of 1.11 and a debt-to-equity ratio of 0.60. Arrow Electronics has a 52-week low of $62.69 and a 52-week high of $83.03. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14.
Arrow Electronics declared that its Board of Directors has approved a share repurchase program on Wednesday, December 12th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 9.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Arrow Electronics news, CEO Michael J. Long sold 25,835 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $82.19, for a total value of $2,123,378.65. Following the transaction, the chief executive officer now owns 381,028 shares in the company, valued at approximately $31,316,691.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Long sold 53,984 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $80.70, for a total transaction of $4,356,508.80. Following the completion of the transaction, the chief executive officer now owns 366,253 shares in the company, valued at approximately $29,556,617.10. The disclosure for this sale can be found here. Insiders sold a total of 102,351 shares of company stock worth $8,322,837 in the last quarter. 1.30% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of Arrow Electronics by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,742,170 shares of the technology company’s stock valued at $423,313,000 after purchasing an additional 370,095 shares in the last quarter. Vanguard Group Inc raised its stake in Arrow Electronics by 0.9% during the third quarter. Vanguard Group Inc now owns 7,937,507 shares of the technology company’s stock worth $585,153,000 after acquiring an additional 70,647 shares during the period. Daiwa SB Investments Ltd. raised its stake in Arrow Electronics by 12.3% during the fourth quarter. Daiwa SB Investments Ltd. now owns 2,740 shares of the technology company’s stock worth $189,000 after acquiring an additional 300 shares during the period. Geode Capital Management LLC raised its stake in Arrow Electronics by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 918,201 shares of the technology company’s stock worth $63,269,000 after acquiring an additional 86,631 shares during the period. Finally, Man Group plc acquired a new stake in Arrow Electronics during the third quarter worth about $293,000. Hedge funds and other institutional investors own 94.19% 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 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.
Recommended Story: What is the Coverage Ratio?
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.