Arrow Electronics (NYSE:ARW) Reaches New 52-Week Low – Here’s Why

Arrow Electronics, Inc. (NYSE:ARW) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $104.42 and last traded at $105.75, with a volume of 9675 shares changing hands. The stock had previously closed at $105.63.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ARW. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company dropped their price target on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Arrow Electronics presently has an average rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Stock Performance

The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 0.52 and a beta of 1.26. The company has a 50-day moving average of $112.82 and a 200-day moving average of $121.60. The company has a current ratio of 1.46, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 9.69% and a net margin of 1.40%. On average, equities research analysts forecast that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Yun Sung Cho sold 353 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $112.11, for a total transaction of $39,574.83. Following the completion of the sale, the chief accounting officer now directly owns 1,549 shares of the company’s stock, valued at $173,658.39. This represents a 18.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arrow Electronics

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Arrow Electronics in the 3rd quarter worth about $88,000. Wealth Enhancement Advisory Services LLC lifted its stake in Arrow Electronics by 43.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,336 shares of the technology company’s stock worth $1,107,000 after acquiring an additional 2,544 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Arrow Electronics in the 3rd quarter worth about $78,000. US Bancorp DE lifted its stake in Arrow Electronics by 2.1% in the 3rd quarter. US Bancorp DE now owns 27,407 shares of the technology company’s stock worth $3,640,000 after acquiring an additional 558 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Arrow Electronics by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 29,576 shares of the technology company’s stock worth $3,915,000 after acquiring an additional 8,450 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

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.