Arrow Electronics Inc. (NYSE:ARW) was downgraded by research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report issued on Tuesday. They presently have a $63.00 price objective on the stock, down from their prior price objective of $72.00. Goldman Sachs Group Inc.’s target price indicates a potential downside of 1.52% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Citigroup Inc. raised their price objective on shares of Arrow Electronics from $48.00 to $57.00 and gave the stock a “sell” rating in a research report on Wednesday, August 3rd. Brean Capital set a $70.00 price objective on shares of Arrow Electronics and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Zacks Investment Research cut shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Arrow Electronics in a research report on Saturday, June 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Arrow Electronics currently has a consensus rating of “Hold” and an average target price of $63.33.

Analyst Recommendations for Arrow Electronics (NYSE:ARW)

Arrow Electronics (NYSE:ARW) opened at 63.97 on Tuesday. Arrow Electronics has a 1-year low of $45.23 and a 1-year high of $68.07. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 11.79 and a beta of 1.48. The company’s 50 day moving average is $65.05 and its 200 day moving average is $63.79.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Tuesday, August 2nd. The company reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.01. Arrow Electronics had a net margin of 2.13% and a return on equity of 13.94%. The business earned $5.97 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the prior year, the business earned $1.54 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Arrow Electronics will post $6.65 EPS for the current year.

In other news, General Counsel Gregory Tarpinian sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $66.40, for a total value of $66,400.00. Following the completion of the transaction, the general counsel now owns 6,099 shares of the company’s stock, valued at $404,973.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Michael J. Long sold 44,777 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $66.35, for a total transaction of $2,970,953.95. Following the completion of the transaction, the chairman now directly owns 308,393 shares of the company’s stock, valued at approximately $20,461,875.55. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. raised its position in Arrow Electronics by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,871,080 shares of the company’s stock valued at $184,926,000 after buying an additional 9,436 shares during the last quarter. BlackRock Group LTD raised its position in Arrow Electronics by 1.9% in the first quarter. BlackRock Group LTD now owns 608,909 shares of the company’s stock valued at $39,220,000 after buying an additional 11,405 shares during the last quarter. BlackRock Inc. raised its position in Arrow Electronics by 6.2% in the first quarter. BlackRock Inc. now owns 111,987 shares of the company’s stock valued at $7,213,000 after buying an additional 6,536 shares during the last quarter. Algert Global LLC acquired a new position in Arrow Electronics during the first quarter valued at approximately $2,104,000. Finally, Prudential Financial Inc. raised its position in Arrow Electronics by 6.5% in the first quarter. Prudential Financial Inc. now owns 969,841 shares of the company’s stock valued at $62,467,000 after buying an additional 59,200 shares during the last quarter. 93.73% of the stock is owned by institutional investors and hedge funds.

Arrow Electronics Company Profile

Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.

5 Day Chart for NYSE:ARW

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