Arrow Electronics, Inc. (NYSE:ARW) CFO Christopher Stansbury Sells 57,550 Shares of Stock
Arrow Electronics, Inc. (NYSE:ARW) CFO Christopher Stansbury sold 57,550 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $68.87, for a total transaction of $3,963,468.50. Following the completion of the sale, the chief financial officer now directly owns 32,481 shares of the company’s stock, valued at approximately $2,236,966.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NYSE ARW traded up $0.12 on Thursday, reaching $68.78. The company’s stock had a trading volume of 2,407 shares, compared to its average volume of 667,046. Arrow Electronics, Inc. has a twelve month low of $62.35 and a twelve month high of $86.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.15 and a current ratio of 1.64. The stock has a market cap of $5.71 billion, a PE ratio of 7.84, a PEG ratio of 2.21 and a beta of 1.39. The firm’s 50 day moving average is $69.34 and its two-hundred day moving average is $74.03.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the company posted $2.20 earnings per share. Arrow Electronics’s revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that Arrow Electronics, Inc. will post 7.25 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Arrow Electronics from $68.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Deutsche Bank assumed coverage on shares of Arrow Electronics in a report on Tuesday, June 11th. They issued a “buy” rating and a $83.00 price target for the company. Zacks Investment Research downgraded shares of Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price target for the company. in a report on Wednesday, July 3rd. TheStreet downgraded shares of Arrow Electronics from a “b-” rating to a “c” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus cut their price target on shares of Arrow Electronics from $75.00 to $70.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Arrow Electronics currently has a consensus rating of “Hold” and an average price target of $77.02.
About Arrow Electronics
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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