Shares of Arrow Electronics Inc. (NYSE: ARW) were downgraded by analysts at Goldman Sachs Group Inc. in a note to their investors today. Goldman Sachs Group Inc. currently has a rating of Neutral on the shares. The one-year price target of $70.20 is above the opening price of $61.60, that has caused a fair amount of other analysts to issue statements on the company in recent days. Looking back over the last year, Arrow Electronics Inc. stock has a high of $68.07. considerable and fundamental changes in the company’s procedures, future outlook or industry can cause downgrades as the analysts believe that the future prospects for the security have dropped from the initial recommendation.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Arrow Electronics Inc. (NYSE: ARW) shares last traded at $61.40, which is a decrease of $2.57 over the previous closing price. Opening at $61.60, they ranged from $61.40 and $63.00 throughout the day.
Arrow Electronics Inc. (NYSE: ARW) currently has a market cap of 5.60B.
The stock’s average daily volume is 512,658 shares out of a total float 85,116,000 and some 959,453 shares traded hands yesterday, 59 percent higher than the norm. Heavy volume accumulation by institutional investors may be on the horizon as the combination of substantial gains in trading volume and price growth can be deciding components.
While an increase in trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more impactful judgments on trades.
With that in mind, Arrow Electronics Inc. (NYSE: ARW) now has a 50-day MA of $64.90 and 200-day MA of $63.80. It has traded in a 52-week range between $45.23 – 68.07 and today’s last price is 0.10% lower than the 52 week high of $68.07.
Earnings growth is a crucial factor to research when buying stocks and investors identify companies that have increased their earnings by at least 25% over a 3 year period.
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