The stock of Arrow Electronics, Inc. (NYSE:ARW) hit a new 52-week high and has $71.28 target or 5.00% above today’s $67.89 share price. The 6 months bullish chart indicates low risk for the $6.07B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $71.28 price target is reached, the company will be worth $303.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 186,025 shares traded hands. Arrow Electronics, Inc. (NYSE:ARW) has risen 8.06% since April 28, 2016 and is uptrending. It has outperformed by 2.13% 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 $179.71M for 8.44 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. Goldman Sachs maintained Arrow Electronics, Inc. (NYSE:ARW) rating on Monday, May 9. Goldman Sachs has “Buy” rating and $72 price target. On Monday, May 2 the stock rating was downgraded by Citigroup to “Sell”. The firm has “Outperform” rating by CLSA given on Thursday, October 29. Zacks upgraded it to “Hold” rating and $62 target price in Monday, August 31 report. Goldman Sachs downgraded the shares of ARW in a report on Tuesday, September 20 to “Neutral” rating. The rating was upgraded by CLSA on Wednesday, July 29 to “Buy”. Goldman Sachs upgraded the shares of ARW in a report on Monday, March 14 to “Buy” rating. The rating was upgraded by Longbow on Friday, January 22 to “Buy”. Bank of America initiated Arrow Electronics, Inc. (NYSE:ARW) on Wednesday, April 27 with “Buy” rating. The stock has “Buy” rating given by Credit Agricole on Wednesday, July 29.
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.
Reilly Fincl Advisors Limited Liability Corporation holds 1.25% or 110,100 shares in its portfolio. Chicago Equity Ptnrs reported 33,250 shares or 0.06% of all its holdings. Natixis Asset Mgmt holds 20,703 shares or 0.14% of its portfolio. Robecosam Ag, a Switzerland-based fund reported 2,000 shares. Robeco Institutional Asset Mngmt Bv accumulated 23,529 shares or 0.01% of the stock. Hillsdale Investment Inc owns 5,750 shares or 0.1% of their US portfolio. Brown Advisory Inc accumulated 0% or 19,520 shares. Peak6 Invs Ltd Partnership holds 3,905 shares or 0% of its portfolio. Capital Ok accumulated 129,158 shares or 0% of the stock. Artisan Prtnrs Partnership accumulated 3.74 million shares or 0.49% of the stock. Bluemountain Cap Mgmt Ltd Liability Company last reported 0.04% of its portfolio in the stock. Canada Pension Plan Investment Board has invested 0.05% of its portfolio in Arrow Electronics, Inc. (NYSE:ARW). Loomis Sayles L P, a Massachusetts-based fund reported 104 shares. Greenwich Wealth Mngmt Lc holds 0.17% or 52,000 shares in its portfolio. Hightower Advsr Ltd Liability Co has invested 0.01% of its portfolio in Arrow Electronics, Inc. (NYSE:ARW).
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 6 selling transactions for $8.14 million net activity. LONG MICHAEL J sold $2.97 million worth of stock. Another trade for 2,531 shares valued at $168,033 was made by Melvin Vincent P on Thursday, August 11. On Tuesday, August 9 the insider Tarpinian Gregory sold $66,400. Shares for $3.42M were sold by REILLY PAUL J. Shares for $542,239 were sold by Morris Mary Catherine. The insider BRYANT ANDREW S sold $976,446.
More news for Arrow Electronics, Inc. (NYSE:ARW) were recently published by: Businesswire.com, which released: “Arrow Electronics’ Semi-Autonomous Car Hits Record 152 MPH With Quadriplegic …” on May 22, 2016. Streetinsider.com‘s article titled: “Form 4 ARROW ELECTRONICS INC For: Nov 23 Filed by: Morris Mary Catherine” and published on November 28, 2016 is yet another important article.
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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