The stock of Arrow Electronics, Inc. (NYSE:ARW) reached all time high today, Nov, 25 and still has $71.75 target or 5.00% above today’s $68.33 share price. This indicates more upside for the $6.15 billion company. This technical setup was reported by Barchart.com. If the $71.75 PT is reached, the company will be worth $307.50M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.80% or $0.54 during the last trading session, hitting $68.33. About 178,668 shares traded hands. Arrow Electronics, Inc. (NYSE:ARW) has risen 6.55% since April 22, 2016 and is uptrending. It has outperformed by 1.15% the S&P500.
Analysts await Arrow Electronics, Inc. (NYSE:ARW) to report earnings on February, 2. They expect $2.01 earnings per share, up 3.61% or $0.07 from last year’s $1.94 per share. ARW’s profit will be $180.91 million for 8.50 P/E if the $2.01 EPS becomes a reality. After $1.56 actual earnings per share reported by Arrow Electronics, Inc. for the previous quarter, Wall Street now forecasts 28.85% EPS growth.
Arrow Electronics, Inc. (NYSE:ARW) Ratings Coverage
Out of 7 analysts covering Arrow Electronics Inc. (NYSE:ARW), 5 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 71% are positive. Arrow Electronics Inc. has been the topic of 12 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of Arrow Electronics, Inc. (NYSE:ARW) has “Sell” rating given on Monday, May 2 by Citigroup. The rating was downgraded by Credit Agricole to “Outperform” on Thursday, October 29. The stock of Arrow Electronics, Inc. (NYSE:ARW) has “Buy” rating given on Monday, March 14 by Goldman Sachs. The stock of Arrow Electronics, Inc. (NYSE:ARW) has “Buy” rating given on Wednesday, July 29 by CLSA. On Friday, January 22 the stock rating was upgraded by Longbow to “Buy”. Goldman Sachs downgraded the shares of ARW in a report on Tuesday, September 20 to “Neutral” rating. The firm earned “Buy” rating on Wednesday, April 27 by Bank of America. The company was downgraded on Thursday, October 29 by CLSA. On Monday, May 9 the stock rating was maintained by Goldman Sachs with “Buy”. Credit Agricole upgraded the stock to “Buy” rating in Wednesday, July 29 report.
According to Zacks Investment Research, “Arrow Electronics, Inc. is the world’s largest distributor of electronic components and computer products to industrial and commercial customers. The company is a major global provider of products, services, and solutions to industrial and commercial users of electronic components and computer products. The company offers sales, service, and technical support capabilities that not only enable the company to provide the most powerful line card to their customers, but to be their strategic business partner as well. Through a wide range of value-added services, the company assists their customers reduce their time to market, lower their total cost of ownership, and enhance their overall competitiveness.”
Insitutional Activity: The institutional sentiment decreased to 0.73 in Q2 2016. Its down 0.58, from 1.31 in 2016Q1. The ratio turned negative, as 26 funds sold all Arrow Electronics, Inc. shares owned while 106 reduced positions. 31 funds bought stakes while 142 increased positions. They now own 84.57 million shares or 7.10% less from 91.03 million shares in 2016Q1.
Artisan Ptnrs Ltd Partnership has invested 0.49% of its portfolio in Arrow Electronics, Inc. (NYSE:ARW). Jpmorgan Chase And holds 7.44 million shares or 0.11% of its portfolio. Moreover, Pnc Financial Grp Incorporated has 0.02% invested in Arrow Electronics, Inc. (NYSE:ARW) for 239,313 shares. Babson Cap Management Ltd Liability Corp holds 0.01% or 3,800 shares in its portfolio. Metropolitan Life New York, a New York-based fund reported 86,057 shares. Creative Planning holds 0% or 339 shares in its portfolio. Janus Ltd Liability Corp reported 12,500 shares or 0% of all its holdings. Moreover, Fmr Lc has 0.02% invested in Arrow Electronics, Inc. (NYSE:ARW) for 2.38 million shares. Moreover, Price T Rowe Assoc Incorporated Md has 0% invested in Arrow Electronics, Inc. (NYSE:ARW) for 27,983 shares. Da Davidson And owns 1,100 shares or 0% of their US portfolio. Moreover, Mu Invs has 0.1% invested in Arrow Electronics, Inc. (NYSE:ARW) for 2,550 shares. Zebra Cap Mngmt Ltd Company last reported 17,335 shares in the company. Cap Advisors Ok reported 129,158 shares or 0% of all its holdings. Geode Mngmt Ltd Llc holds 0.02% or 580,876 shares in its portfolio. Eventide Asset Lc last reported 1.12% of its portfolio in the stock.
Insider Transactions: Since June 6, 2016, the stock had 0 insider purchases, and 5 sales for $7.60 million net activity. Melvin Vincent P also sold $168,033 worth of Arrow Electronics, Inc. (NYSE:ARW) shares. The insider BRYANT ANDREW S sold 14,785 shares worth $976,446. $2.97M worth of Arrow Electronics, Inc. (NYSE:ARW) shares were sold by LONG MICHAEL J. REILLY PAUL J had sold 50,705 shares worth $3.42M on Thursday, June 9. $66,400 worth of Arrow Electronics, Inc. (NYSE:ARW) was sold by Tarpinian Gregory on Tuesday, August 9.
Another recent and important Arrow Electronics, Inc. (NYSE:ARW) news was published by Businesswire.com which published an article titled: “Arrow Electronics’ Semi-Autonomous Car Hits Record 152 MPH With Quadriplegic …” on May 22, 2016.
ARW Company Profile
Arrow Electronics, Inc., incorporated on November 20, 1946, is a well-known provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Firm 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. The Firm operates in two divisions: Global Components and Global Enterprise Computing Solutions. The Firm distributes electronic components to original equipment manufacturers and contract manufacturers through its Global Components segment and provides enterprise computing solutions to value-added resellers (VARs) through its Global Enterprise Computing Solutions segment.
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