ARRIS International (NASDAQ:ARRS) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Wednesday, December 20th.
Other equities research analysts have also recently issued reports about the company. Raymond James Financial set a $36.00 price target on ARRIS International and gave the company a “buy” rating in a research report on Thursday, December 14th. ValuEngine upgraded ARRIS International from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Morgan Stanley cut ARRIS International from an “overweight” rating to an “equal weight” rating and set a $31.00 price target on the stock. in a research report on Tuesday, December 19th. Northland Securities set a $25.00 price target on ARRIS International and gave the company a “hold” rating in a research report on Monday, October 16th. Finally, TheStreet upgraded ARRIS International 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, four have given a hold rating and seven have given a buy rating to the company. ARRIS International has a consensus rating of “Buy” and an average price target of $33.40.
ARRIS International (NASDAQ ARRS) traded up $0.25 during midday trading on Wednesday, reaching $25.51. 1,597,602 shares of the company’s stock traded hands, compared to its average volume of 1,264,750. The stock has a market capitalization of $4,760.00, a P/E ratio of 29.32, a PEG ratio of 0.99 and a beta of 1.40. ARRIS International has a 1-year low of $24.75 and a 1-year high of $30.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 1.83.
ARRIS International (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. equities research analysts expect that ARRIS International will post 2.32 EPS for the current fiscal year.
In other ARRIS International news, 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 value of $36,575.00. Following the completion of the sale, the senior vice president now owns 4,556 shares of the company’s stock, valued at $133,308.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lawrence Robinson sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $30.00, for a total value of $125,010.00. Following the completion of the sale, the insider now directly owns 71,721 shares of the company’s stock, valued at approximately $2,151,630. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,347 shares of company stock worth $290,307. 0.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Eii Capital Management Inc. boosted its stake in ARRIS International by 10.5% in the second quarter. Eii Capital Management Inc. now owns 118,675 shares of the communications equipment provider’s stock worth $3,325,000 after buying an additional 11,250 shares in the last quarter. Quantitative Investment Management LLC purchased a new stake in ARRIS International in the second quarter worth approximately $7,428,000. Tocqueville Asset Management L.P. purchased a new stake in ARRIS International in the third quarter worth approximately $5,674,000. Balyasny Asset Management LLC boosted its stake in ARRIS International by 376.9% in the second quarter. Balyasny Asset Management LLC now owns 38,635 shares of the communications equipment provider’s stock worth $1,083,000 after buying an additional 30,534 shares in the last quarter. Finally, First Quadrant L P CA purchased a new stake in ARRIS International in the third quarter worth approximately $3,827,000. 86.51% of the stock is owned by institutional investors and hedge funds.
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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.
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