Arrow Electronics, Inc. (ARW) Short Interest Up 165.5% in November
Arrow Electronics, Inc. (NYSE:ARW) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,204,384 shares, a growth of 165.5% from the October 31st total of 830,253 shares. Based on an average daily volume of 659,989 shares, the short-interest ratio is presently 3.3 days. Approximately 2.5% of the shares of the company are sold short.
ARW has been the topic of a number of research reports. Zacks Investment Research cut Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus restated a “buy” rating and issued a $86.00 price objective on shares of Arrow Electronics in a research note on Tuesday, September 12th. Finally, BidaskClub cut Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. 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. The company currently has a consensus rating of “Hold” and an average price target of $83.25.
In other news, SVP Matthew R. Anderson sold 1,416 shares of Arrow Electronics stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $79.00, for a total transaction of $111,864.00. Following the sale, the senior vice president now directly owns 1,416 shares in the company, valued at approximately $111,864. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean J. Kerins sold 3,816 shares of Arrow Electronics stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $78.87, for a total value of $300,967.92. Following the sale, the insider now owns 25,552 shares in the company, valued at $2,015,286.24. The disclosure for this sale can be found here. Insiders have sold a total of 10,032 shares of company stock worth $788,816 over the last quarter. Company insiders own 1.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ARW. ING Groep NV bought a new stake in Arrow Electronics in the 2nd quarter valued at about $848,000. NGAM Advisors L.P. raised its stake in Arrow Electronics by 1.9% in the 2nd quarter. NGAM Advisors L.P. now owns 34,311 shares of the technology company’s stock valued at $2,691,000 after acquiring an additional 628 shares during the period. Janney Montgomery Scott LLC raised its stake in Arrow Electronics by 10.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,188 shares of the technology company’s stock valued at $956,000 after acquiring an additional 1,139 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Arrow Electronics by 14.8% during the second quarter. Great West Life Assurance Co. Can now owns 127,095 shares of the technology company’s stock valued at $9,958,000 after buying an additional 16,396 shares during the period. Finally, CAPROCK Group Inc. bought a new stake in shares of Arrow Electronics during the second quarter valued at about $315,000. Institutional investors and hedge funds own 91.78% of the company’s stock.
Shares of Arrow Electronics (NYSE:ARW) opened at $77.71 on Tuesday. Arrow Electronics has a 52 week low of $68.55 and a 52 week high of $84.53. The stock has a market capitalization of $6,840.00, a PE ratio of 11.22, a P/E/G ratio of 0.94 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.57.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.82 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.82. Arrow Electronics had a return on equity of 13.63% and a net margin of 2.00%. The business had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same period in the previous year, the business posted $1.56 EPS. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. equities analysts anticipate that Arrow Electronics will post 7.35 earnings per share for the current fiscal year.
About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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