Arrow Electronics (NYSE:ARW) Sets New 52-Week Low – Time to Sell?

Arrow Electronics, Inc. (NYSE:ARW)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $96.92 and last traded at $97.42, with a volume of 127392 shares changing hands. The stock had previously closed at $105.16.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America lowered Arrow Electronics from a “neutral” rating to an “underperform” rating in a research report on Friday, February 7th. Wells Fargo & Company cut their target price on Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $121.25.

Arrow Electronics Trading Down 8.7 %

The company’s 50 day simple moving average is $109.09 and its 200-day simple moving average is $117.93. The firm has a market cap of $4.98 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.52 and a beta of 1.26. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 0.48.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William F. Austen bought 1,900 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $104.12 per share, for a total transaction of $197,828.00. Following the purchase, the director now directly owns 7,858 shares of the company’s stock, valued at approximately $818,174.96. The trade was a 31.89 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Yun Sung Cho sold 237 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $108.73, for a total transaction of $25,769.01. Following the transaction, the chief accounting officer now directly owns 2,086 shares in the company, valued at approximately $226,810.78. This trade represents a 10.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrow Electronics

Several hedge funds have recently made changes to their positions in the company. BOK Financial Private Wealth Inc. purchased a new position in shares of Arrow Electronics during the fourth quarter valued at $25,000. Brown Brothers Harriman & Co. purchased a new position in Arrow Electronics during the 4th quarter valued at about $31,000. New Age Alpha Advisors LLC bought a new stake in shares of Arrow Electronics in the 4th quarter valued at about $47,000. Principal Securities Inc. lifted its position in shares of Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after purchasing an additional 126 shares during the period. Finally, CoreFirst Bank & Trust bought a new position in shares of Arrow Electronics during the fourth quarter valued at approximately $55,000. 99.34% of the stock is currently 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.