Downgrade Alert for Arrow Electronics (ARW)
Arrow Electronics (NYSE:ARW) was downgraded from Buy to Hold at Deutsche Bank today. The stock closed yesterday at $49.62 on volume of 512,000 shares, above average daily volume of 504,000.
Arrow Electronics, Inc. distributes electronic components and computer products to industrial and commercial customers. The Company distributes a variety of products including computer systems, peripherals, software, and mass storage products to original equipment manufacturers and commercial customers worldwide.
Arrow Electronics (NYSE:ARW) has potential upside of 2.1% based on a current price of $49.62 and analysts' consensus price target of $50.67. Arrow Electronics shares have support at the 50-day moving average (MA) of $47.65 and additional support at the 200-day MA of $41.85.
In the past 52 weeks, Arrow Electronics share prices have been bracketed by a low of $31.31 and a high of $49.93 and closed yesterday at $49.62, 58% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.6%.
SmarTrend recommended that subscribers consider buying shares of Arrow Electronics on May 16th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.40. Since that recommendation, shares of Arrow Electronics have risen 25.9%. We continue to monitor ARW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades arrow electronics