Arrow Electronics (NYSE:ARW) Downgraded by StockNews.com

Arrow Electronics (NYSE:ARW) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Several other equities analysts also recently weighed in on the company. Truist Financial increased their target price on Arrow Electronics from $131.00 to $138.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. Bank of America reduced their target price on Arrow Electronics from $155.00 to $148.00 in a research report on Sunday, August 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Arrow Electronics presently has an average rating of “Hold” and a consensus price target of $133.67.

Arrow Electronics Stock Performance

Shares of NYSE:ARW traded down $0.10 during trading on Monday, reaching $123.39. The company had a trading volume of 511,997 shares, compared to its average volume of 457,857. The stock’s fifty day moving average price is $120.54 and its 200 day moving average price is $128.36. Arrow Electronics has a fifty-two week low of $101.01 and a fifty-two week high of $147.42. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 6.89, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.96.

Institutional Investors Weigh In On Arrow Electronics

Large investors have recently modified their holdings of the stock. Legacy Financial Group LLC acquired a new stake in shares of Arrow Electronics in the third quarter valued at about $25,000. SouthState Corp acquired a new stake in Arrow Electronics during the 2nd quarter valued at approximately $32,000. IFP Advisors Inc grew its stake in Arrow Electronics by 33.0% during the 3rd quarter. IFP Advisors Inc now owns 403 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Arrow Electronics during the 1st quarter valued at approximately $52,000. Finally, Gladius Capital Management LP grew its stake in Arrow Electronics by 27.1% during the 3rd quarter. Gladius Capital Management LP now owns 441 shares of the technology company’s stock valued at $56,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 94.79% 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.