Arrow Electronics (NYSE:ARW) Sets New 52-Week High at $135.74

Arrow Electronics, Inc. (NYSE:ARW)’s stock price hit a new 52-week high on Thursday . The company 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARW. The Goldman Sachs Group raised 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 raised their price target 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. Wells Fargo & Company boosted their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Truist Financial boosted their price target on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.75.

Arrow Electronics Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The company’s 50 day moving average price is $124.83 and its 200 day moving average price is $124.91. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 10.71 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last posted 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%. Arrow Electronics’s revenue was down 19.0% compared to the same quarter last year. During the same period last year, the business posted $4.37 EPS. Research analysts anticipate that Arrow Electronics, Inc. will post 10.34 EPS for the current year.

Hedge Funds Weigh In On Arrow Electronics

Several large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Arrow Electronics during the 1st quarter worth about $32,000. Versant Capital Management Inc grew its stake in shares of Arrow Electronics by 794.6% during the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after purchasing an additional 294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Arrow Electronics by 76.5% in 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 period. Principal Securities Inc. acquired a new position in Arrow Electronics during the 4th quarter valued at about $56,000. Finally, GAMMA Investing LLC bought a new position in shares of Arrow Electronics in the 4th quarter valued at about $58,000. Institutional investors and hedge funds own 99.34% 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 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.