Arrow Electronics (NYSE:ARW) Hits New 12-Month High at $135.74

Arrow Electronics, Inc. (NYSE:ARW)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $135.74 and last traded at $135.59, with a volume of 27211 shares. The stock had previously closed at $133.61.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ARW. The Goldman Sachs Group boosted their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Raymond James upped their price target on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Truist Financial increased their price target on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their target price on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $130.75.

Arrow Electronics Stock Performance

The stock has a market capitalization of $7.19 billion, a P/E ratio of 10.62 and a beta of 1.27. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $125.17 and a two-hundred day moving average price of $125.13.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.62. The business had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.37 earnings per share. On average, equities analysts forecast that Arrow Electronics, Inc. will post 10.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARW. Rise Advisors LLC acquired a new position in shares of Arrow Electronics during the first quarter valued at about $32,000. Versant Capital Management Inc boosted its holdings in Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock worth $40,000 after acquiring an additional 294 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Arrow Electronics by 76.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after acquiring an additional 150 shares in the last quarter. Principal Securities Inc. acquired a new stake in Arrow Electronics in the fourth quarter valued at approximately $56,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Arrow Electronics during the first quarter valued at approximately $81,000. 99.34% of the stock is owned by institutional investors.

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.