Raymond James Financial Reiterates “$38.00” Price Target for ARRIS International (ARRS)

Raymond James Financial set a $38.00 price target on ARRIS International (NASDAQ:ARRS) in a report issued on Monday. The firm currently has a buy rating on the communications equipment provider’s stock.

ARRS has been the topic of several other research reports. ValuEngine cut shares of ARRIS International from a buy rating to a hold rating in a research report on Wednesday, September 6th. Jefferies Group set a $38.00 price objective on shares of ARRIS International and gave the stock a buy rating in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of ARRIS International from a hold rating to a buy rating and set a $32.00 price objective on the stock in a research note on Tuesday, November 7th. TheStreet raised shares of ARRIS International from a c+ rating to a b rating in a research note on Monday, October 9th. Finally, Northland Securities set a $25.00 price objective on shares of ARRIS International and gave the stock a hold rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $33.89.

ARRIS International (NASDAQ ARRS) opened at $28.94 on Monday. ARRIS International has a 52-week low of $24.75 and a 52-week high of $31.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 1.83. The stock has a market cap of $5,545.18, a PE ratio of 12.73, a P/E/G ratio of 1.28 and a beta of 1.39.

ARRIS International (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.18. ARRIS International had a net margin of 2.51% and a return on equity of 14.02%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. ARRIS International’s quarterly revenue was down .2% on a year-over-year basis. research analysts forecast that ARRIS International will post 2.32 EPS for the current fiscal year.

In other news, insider Lawrence Robinson sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $30.00, for a total value of $125,010.00. Following the transaction, the insider now owns 71,721 shares in the company, valued at $2,151,630. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Patrick W. Macken sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $29.26, for a total transaction of $36,575.00. Following the completion of the transaction, the senior vice president now owns 4,556 shares in the company, valued at approximately $133,308.56. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in shares of ARRIS International by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 5,385,138 shares of the communications equipment provider’s stock worth $153,423,000 after buying an additional 140,548 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of ARRIS International by 4.8% in the third quarter. Neuberger Berman Group LLC now owns 2,030,172 shares of the communications equipment provider’s stock worth $57,840,000 after buying an additional 92,445 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of ARRIS International by 0.6% in the third quarter. New York State Common Retirement Fund now owns 1,234,560 shares of the communications equipment provider’s stock worth $35,173,000 after buying an additional 7,610 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of ARRIS International by 9.6% in the second quarter. Teachers Advisors LLC now owns 904,962 shares of the communications equipment provider’s stock worth $25,357,000 after buying an additional 79,439 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of ARRIS International by 33.0% in the third quarter. Canada Pension Plan Investment Board now owns 902,100 shares of the communications equipment provider’s stock worth $25,701,000 after buying an additional 224,000 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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About ARRIS International

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.

Analyst Recommendations for ARRIS International (NASDAQ:ARRS)

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