Arrow Electronics (NYSE:ARW) Reaches New 1-Year High - Time to Buy?

Arrow Electronics, Inc. (NYSE:ARW - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $137.80 and last traded at $136.42, with a volume of 77293 shares trading hands. The stock had previously closed at $134.55.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ARW shares. Truist Financial increased their price objective on Arrow Electronics from $124.00 to $141.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Raymond James lifted their price objective on Arrow Electronics from $135.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an "underweight" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $130.75.

Arrow Electronics Stock Performance

The stock's fifty day simple moving average is $131.73 and its 200-day simple moving average is $128.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The company has a market capitalization of $7.20 billion, a PE ratio of 12.93 and a beta of 1.26.

Arrow Electronics (NYSE:ARW - Get Free Report) last released its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.52 billion. During the same period in the previous year, the firm earned $4.37 earnings per share. Arrow Electronics's revenue was down 19.0% compared to the same quarter last year. As a group, equities analysts predict that Arrow Electronics, Inc. will post 10.74 earnings per share for the current year.

Hedge Funds Weigh In On Arrow Electronics

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. grew its holdings in Arrow Electronics by 9,044.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,218,159 shares of the technology company's stock valued at $147,105,000 after purchasing an additional 1,204,837 shares in the last quarter. Boston Partners increased its position in shares of Arrow Electronics by 108.5% in the 1st quarter. Boston Partners now owns 1,001,443 shares of the technology company's stock worth $129,622,000 after purchasing an additional 521,117 shares during the last quarter. Lind Value II ApS bought a new position in shares of Arrow Electronics during the first quarter worth about $66,949,000. Dimensional Fund Advisors LP increased its holdings in Arrow Electronics by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,743,892 shares of the technology company's stock valued at $331,353,000 after buying an additional 325,122 shares during the last quarter. Finally, Loews Corp bought a new stake in shares of Arrow Electronics in the 1st quarter valued at approximately $25,892,000. Hedge funds and other institutional investors 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.