Arrow Electronics (NYSE:ARW) Hits New 12-Month Low – What’s Next?

Arrow Electronics, Inc. (NYSE:ARW)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $105.00 and last traded at $108.20, with a volume of 153601 shares trading hands. The stock had previously closed at $114.91.

Analysts Set New Price Targets

ARW has been the subject of several analyst reports. Truist Financial dropped their price target 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. Raymond James lowered their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Wells Fargo & Company reduced their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, Bank of America cut shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $121.25.

Arrow Electronics Stock Performance

The stock has a market cap of $5.63 billion, a PE ratio of 11.96 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. The firm has a 50 day moving average of $116.32 and a two-hundred day moving average of $123.50.

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, beating the consensus estimate of $2.80 by $0.17. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. Research analysts predict that Arrow Electronics, Inc. will post 10.26 EPS for the current fiscal year.

Institutional Trading of Arrow Electronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BOK Financial Private Wealth Inc. purchased a new position in Arrow Electronics during the 4th quarter worth approximately $25,000. True Wealth Design LLC acquired a new stake in Arrow Electronics during the 3rd quarter worth $31,000. Brooklyn Investment Group purchased a new position in Arrow Electronics during the 3rd quarter worth $40,000. Principal Securities Inc. increased its stake in Arrow Electronics by 35.7% in the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock valued at $54,000 after purchasing an additional 126 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Arrow Electronics by 24.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company’s stock valued at $64,000 after buying an additional 112 shares during the last quarter. 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.