Arrow Electronics (NYSE:ARW) Stock Rating Lowered by Bank of America

Arrow Electronics (NYSE:ARW) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Friday,Briefing.com Automated Import reports.

ARW has been the topic of several other research reports. Raymond James dropped their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company cut their target price on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Truist Financial cut their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Arrow Electronics currently has an average rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Stock Down 3.2 %

Arrow Electronics stock traded down $3.51 during midday trading on Friday, hitting $106.21. 446,413 shares of the stock were exchanged, compared to its average volume of 469,430. The firm has a market cap of $5.59 billion, a P/E ratio of 11.85 and a beta of 1.26. The company has a 50 day moving average price of $116.32 and a two-hundred day moving average price of $123.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. Arrow Electronics has a 1 year low of $105.00 and a 1 year high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. On average, sell-side analysts predict that Arrow Electronics will post 10.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arrow Electronics

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in Arrow Electronics by 71.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,094,555 shares of the technology company’s stock worth $278,220,000 after acquiring an additional 876,396 shares during the last quarter. Franklin Resources Inc. increased its stake in Arrow Electronics by 1,072.6% during the 3rd quarter. Franklin Resources Inc. now owns 41,265 shares of the technology company’s stock worth $5,564,000 after purchasing an additional 37,746 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Arrow Electronics by 140.4% during the third quarter. Cerity Partners LLC now owns 12,034 shares of the technology company’s stock worth $1,598,000 after buying an additional 7,028 shares in the last quarter. Lind Value II ApS grew its position in shares of Arrow Electronics by 36.3% in the 4th quarter. Lind Value II ApS now owns 648,637 shares of the technology company’s stock valued at $73,374,000 after acquiring an additional 172,669 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Arrow Electronics by 115.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 315,800 shares of the technology company’s stock valued at $41,948,000 after buying an additional 168,904 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.