Northland Securities set a $25.00 price objective on ARRIS International PLC (NASDAQ:ARRS) in a report published on Monday, October 16th. The brokerage currently has a hold rating on the communications equipment provider’s stock.
Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of ARRIS International PLC from a buy rating to a hold rating in a report on Wednesday, September 6th. Jefferies Group LLC set a $38.00 target price on shares of ARRIS International PLC and gave the company a buy rating in a report on Wednesday, October 4th. Zacks Investment Research cut shares of ARRIS International PLC from a buy rating to a hold rating in a report on Tuesday, August 8th. BidaskClub lowered shares of ARRIS International PLC from a buy rating to a hold rating in a research report on Tuesday, July 4th. Finally, TheStreet upgraded shares of ARRIS International PLC from a c+ rating to a b rating in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $33.38.
Shares of ARRIS International PLC (NASDAQ ARRS) opened at 28.07 on Monday. The firm’s 50-day moving average price is $27.98 and its 200 day moving average price is $27.72. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 42.40 and a beta of 1.33. ARRIS International PLC has a 12-month low of $24.75 and a 12-month high of $31.52.
ARRIS International PLC (NASDAQ:ARRS) last posted its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.66 billion. ARRIS International PLC had a net margin of 1.90% and a return on equity of 13.97%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 earnings per share. On average, analysts predict that ARRIS International PLC will post $2.53 earnings per share for the current year.
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In other ARRIS International PLC news, insider Stephen J. Mccaffery sold 12,609 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $30.00, for a total transaction of $378,270.00. Following the transaction, the insider now owns 9,127 shares of the company’s stock, valued at $273,810. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.
A number of large investors have recently bought and sold shares of ARRS. Ameriprise Financial Inc. raised its stake in ARRIS International PLC by 16.5% during the second quarter. Ameriprise Financial Inc. now owns 5,244,590 shares of the communications equipment provider’s stock worth $146,962,000 after purchasing an additional 743,332 shares during the period. Russell Investments Group Ltd. raised its stake in ARRIS International PLC by 76.2% during the second quarter. Russell Investments Group Ltd. now owns 885,606 shares of the communications equipment provider’s stock worth $24,815,000 after purchasing an additional 383,039 shares during the period. Strs Ohio raised its stake in ARRIS International PLC by 22.4% during the second quarter. Strs Ohio now owns 1,910,000 shares of the communications equipment provider’s stock worth $53,518,000 after purchasing an additional 350,000 shares during the period. Quantitative Investment Management LLC purchased a new position in ARRIS International PLC during the second quarter worth approximately $7,428,000. Finally, First Quadrant L P CA purchased a new position in ARRIS International PLC during the third quarter worth approximately $3,827,000. 86.74% of the stock is currently owned by institutional investors.
About ARRIS International PLC
ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.
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