Arrow Electronics (NYSE:ARW) Sets New 52-Week High – Should You Buy?

Arrow Electronics, Inc. (NYSE:ARW) shares reached a new 52-week high on Thursday . The stock traded as high as $137.07 and last traded at $137.07, with a volume of 145341 shares traded. The stock had previously closed at $136.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ARW shares. Raymond James increased their price objective on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Finally, Truist Financial increased their price objective on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $130.75.

Arrow Electronics Trading Up 0.5 %

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 has a market capitalization of $7.30 billion, a price-to-earnings ratio of 10.71 and a beta of 1.26. The business’s 50-day simple moving average is $130.66 and its 200-day simple moving average is $127.75.

Arrow Electronics (NYSE:ARW) last released 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. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The company had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the prior year, the company posted $4.37 EPS. The company’s revenue was down 19.0% compared to the same quarter last year. On average, research analysts expect that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARW. Fifth Third Bancorp raised its position in shares of Arrow Electronics by 0.3% in the 2nd quarter. Fifth Third Bancorp now owns 28,325 shares of the technology company’s stock valued at $3,421,000 after acquiring an additional 82 shares during the period. Two Point Capital Management Inc. increased its stake in Arrow Electronics by 0.4% during the 2nd quarter. Two Point Capital Management Inc. now owns 21,584 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 95 shares in the last quarter. QRG Capital Management Inc. increased its stake in Arrow Electronics by 1.7% during the 1st quarter. QRG Capital Management Inc. now owns 6,223 shares of the technology company’s stock worth $806,000 after purchasing an additional 107 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Arrow Electronics by 2.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 4,623 shares of the technology company’s stock worth $598,000 after purchasing an additional 108 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its stake in Arrow Electronics by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 5,184 shares of the technology company’s stock worth $626,000 after purchasing an additional 117 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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.