Arrow Electronics (NYSE:ARW) Hits New 1-Year Low - What's Next?

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America lowered shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a report on Friday. 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. Wells Fargo & Company lowered their price objective on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating on the stock in a report on Friday. Finally, Raymond James dropped 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $121.25.

Arrow Electronics Stock Up 0.6 %

The business's fifty day moving average price is $116.05 and its 200 day moving average price is $123.41. The firm has a market capitalization of $5.66 billion, a PE ratio of 14.79 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share 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 12.81 earnings per share for the current fiscal year.

Institutional Trading of Arrow Electronics

Several hedge funds and other institutional investors have recently bought and sold shares of ARW. BOK Financial Private Wealth Inc. purchased a new stake in shares of Arrow Electronics during the fourth quarter worth about $25,000. True Wealth Design LLC acquired a new stake in shares of Arrow Electronics in the third quarter worth $31,000. Brooklyn Investment Group purchased a new position in Arrow Electronics in the third quarter valued at about $40,000. Principal Securities Inc. raised its holdings in Arrow Electronics by 35.7% during the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock valued at $54,000 after buying an additional 126 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Arrow Electronics in the third quarter valued at approximately $73,000. 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.