Price Don’t Lie: Is Buying 52-Week Stock Like Arrow Electronics, Inc. a Winning Strategy?

Price Don't Lie: Is Buying 52 Week Stock Like Arrow Electronics, Inc. a Winning Strategy?

The stock of Arrow Electronics, Inc. (NYSE:ARW) hit a new 52-week high and has $71.02 target or 4.00% above today’s $68.29 share price. The 5 months bullish chart indicates low risk for the $6.15B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $71.02 price target is reached, the company will be worth $246.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 100,842 shares traded hands. Arrow Electronics, Inc. (NYSE:ARW) has risen 6.55% since April 22, 2016 and is uptrending. It has outperformed by 1.15% the S&P500.

Analysts await Arrow Electronics, Inc. (NYSE:ARW) to report earnings on February, 2. They expect $2.01 earnings per share, up 3.61% or $0.07 from last year’s $1.94 per share. ARW’s profit will be $181.01 million for 8.49 P/E if the $2.01 EPS becomes a reality. After $1.56 actual earnings per share reported by Arrow Electronics, Inc. for the previous quarter, Wall Street now forecasts 28.85% EPS growth.

Arrow Electronics, Inc. (NYSE:ARW) Ratings Coverage

Out of 7 analysts covering Arrow Electronics Inc. (NYSE:ARW), 5 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 71% are positive. Arrow Electronics Inc. has been the topic of 12 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Thursday, October 29 the stock rating was downgraded by CLSA to “Outperform”. The stock of Arrow Electronics, Inc. (NYSE:ARW) earned “Sell” rating by Citigroup on Monday, May 2. CLSA upgraded the stock to “Buy” rating in Wednesday, July 29 report. On Wednesday, April 27 the stock rating was initiated by Bank of America with “Buy”. The company was downgraded on Tuesday, September 20 by Goldman Sachs. The rating was upgraded by Longbow on Friday, January 22 to “Buy”. Credit Agricole downgraded the shares of ARW in a report on Thursday, October 29 to “Outperform” rating. Goldman Sachs upgraded Arrow Electronics, Inc. (NYSE:ARW) rating on Monday, March 14. Goldman Sachs has “Buy” rating and $69 price target. The firm earned “Hold” rating on Monday, August 31 by Zacks. Credit Agricole upgraded the stock to “Buy” rating in Wednesday, July 29 report.

According to Zacks Investment Research, “Arrow Electronics, Inc. is the world’s largest distributor of electronic components and computer products to industrial and commercial customers. The company is a major global provider of products, services, and solutions to industrial and commercial users of electronic components and computer products. The company offers sales, service, and technical support capabilities that not only enable the company to provide the most powerful line card to their customers, but to be their strategic business partner as well. Through a wide range of value-added services, the company assists their customers reduce their time to market, lower their total cost of ownership, and enhance their overall competitiveness.”

Insitutional Activity: The institutional sentiment decreased to 0.73 in 2016 Q2. Its down 0.58, from 1.31 in 2016Q1. The ratio is negative, as 26 funds sold all Arrow Electronics, Inc. shares owned while 106 reduced positions. 31 funds bought stakes while 142 increased positions. They now own 84.57 million shares or 7.10% less from 91.03 million shares in 2016Q1.
Mu Invs Ltd last reported 0.1% of its portfolio in the stock. Deutsche State Bank Ag last reported 221,073 shares in the company. Parametrica Management Limited holds 0.49% or 5,264 shares in its portfolio. Ngam Advsrs Limited Partnership has invested 0.03% of its portfolio in Arrow Electronics, Inc. (NYSE:ARW). Nuveen Asset Mgmt Limited Liability Company has invested 0.05% of its portfolio in Arrow Electronics, Inc. (NYSE:ARW). Numeric Investors Limited Liability Company owns 155,100 shares or 0.09% of their US portfolio. Artisan Partnership accumulated 0.49% or 3.74M shares. Clark Capital Mgmt Gru has 10,391 shares for 0.04% of their US portfolio. Td Asset Mgmt Inc last reported 0% of its portfolio in the stock. Millennium Ltd Llc reported 106,052 shares or 0.02% of all its holdings. The Maryland-based Profund Ltd Com has invested 0.06% in Arrow Electronics, Inc. (NYSE:ARW). Greenwich Wealth Limited Liability Company has 0.17% invested in the company for 52,000 shares. Moreover, Weaver C Barksdale And Associate has 0.18% invested in Arrow Electronics, Inc. (NYSE:ARW) for 1,679 shares. Renaissance Gru Limited Liability Corp reported 39,491 shares or 0.1% of all its holdings. Reilly Finance Ltd Liability Co accumulated 1.25% or 110,100 shares.

Insider Transactions: Since June 6, 2016, the stock had 0 insider purchases, and 5 selling transactions for $7.60 million net activity. On Thursday, August 11 the insider Melvin Vincent P sold $168,033. $66,400 worth of Arrow Electronics, Inc. (NYSE:ARW) shares were sold by Tarpinian Gregory. LONG MICHAEL J had sold 44,777 shares worth $2.97M on Monday, August 22. BRYANT ANDREW S sold $976,446 worth of Arrow Electronics, Inc. (NYSE:ARW) on Monday, June 6. Shares for $3.42M were sold by REILLY PAUL J on Thursday, June 9.

More news for Arrow Electronics, Inc. (NYSE:ARW) were recently published by: Businesswire.com, which released: “Arrow Electronics’ Semi-Autonomous Car Hits Record 152 MPH With Quadriplegic …” on May 22, 2016. Businesswire.com‘s article titled: “Paul J. Reilly to Retire from Arrow Electronics, Inc.” and published on May 03, 2016 is yet another important article.

ARW Company Profile

Arrow Electronics, Inc., incorporated on November 20, 1946, is a well-known provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Firm has a portfolio of product offerings available from electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers. The Firm operates in two divisions: Global Components and Global Enterprise Computing Solutions. The Firm distributes electronic components to original equipment manufacturers and contract manufacturers through its Global Components segment and provides enterprise computing solutions to value-added resellers (VARs) through its Global Enterprise Computing Solutions segment.

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