Arrow Electronics (ARW) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Sep 20, 2016.
On the company’s financial health, Arrow Electronics reported $1.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.64. The company had revenue of $5972.10 million for the quarter, compared to analysts expectations of $6032.03 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS.
Arrow Electronics closed down -0.85 points or -1.37% at $61.17 with 867,798 shares getting traded on Friday. Post opening the session at $61.87, the shares hit an intraday low of $60.91 and an intraday high of $61.87 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 23, 2016, Michael J Long (Chairman, President & CEO) sold 44,777 shares at $66.35 per share price. According to the SEC, on Aug 11, 2016, Vincent P Melvin (Chief Information Officer) sold 2,531 shares at $66.39 per share price. On Aug 10, 2016, Gregory Tarpinian (General Counsel) sold 1,000 shares at $66.40 per share price, according to the Form-4 filing with the securities and exchange commission.
Arrow Electronics Inc. (Arrow) 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 electronic components and enterprise computing solutions (ECS) suppliers coupled with a range of services solutions and tools for industrial and commercial customers. The Company operates in two business segments: the global components business and the global enterprise computing solutions business. The global components business segment is a provider of online catalogs for electronic components; cloud-based design tools; factory-direct end-of-life product inventory and disposition solutions to redeploy remarket and recycle technology assets. The global ECS business segment provides enterprise and midrange computing products services and solutions to value-added resellers (VARs) in the Americas EMEA and Asia Pacific regions.