Arrow Electronics (NYSE:ARW) Issues Quarterly Earnings Results

Arrow Electronics (NYSE:ARW) issued its quarterly earnings results on Thursday. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.80 by $0.17, Zacks reports. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%.

Arrow Electronics Price Performance

NYSE:ARW traded up $0.90 on Friday, reaching $109.12. The stock had a trading volume of 431,226 shares, compared to its average volume of 481,912. Arrow Electronics has a 1-year low of $105.00 and a 1-year high of $137.80. The company has a market capitalization of $5.74 billion, a P/E ratio of 14.99 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $114.76 and a 200-day moving average price of $122.89.

Analysts Set New Price Targets

Several research analysts have commented on ARW shares. Bank of America downgraded Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Truist Financial lowered their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Raymond James lowered their price objective 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. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $121.25.

Insiders Place Their Bets

In related news, CAO Yun Sung Cho sold 237 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $108.73, for a total transaction of $25,769.01. Following the completion of the sale, the chief accounting officer now directly owns 2,086 shares of the company’s stock, valued at $226,810.78. The trade was a 10.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

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.