Arrow Electronics (NYSE:ARW) Reaches New 1-Year High – Time to Buy?

Shares of Arrow Electronics, Inc. (NYSE:ARW) hit a new 52-week high during trading on Wednesday . The company traded as high as $137.80 and last traded at $136.42, with a volume of 77293 shares trading hands. The stock had previously closed at $134.55.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ARW shares. Raymond James raised their target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Truist Financial raised their target price on shares of 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 raised their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Price Performance

The company has a market cap of $7.26 billion, a P/E ratio of 12.93 and a beta of 1.26. The company’s 50-day moving average price is $131.73 and its two-hundred day moving average price is $128.17. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. The business had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The company’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.37 EPS. As a group, sell-side analysts expect that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

Institutional Investors Weigh In On Arrow Electronics

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc grew its position in shares of Arrow Electronics by 794.6% during the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after buying an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Arrow Electronics by 76.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock valued at $45,000 after buying an additional 150 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Arrow Electronics during the 3rd quarter valued at about $78,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Arrow Electronics during the 3rd quarter valued at about $88,000. Finally, GAMMA Investing LLC grew its position in shares of Arrow Electronics by 24.6% during the 3rd quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock valued at $92,000 after buying an additional 137 shares during the last quarter. Institutional investors own 99.34% 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.