ARRIS International (NASDAQ:ARRS) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, December 19th, Marketbeat.com reports. They presently have a $31.00 price objective on the communications equipment provider’s stock. Morgan Stanley’s price objective points to a potential upside of 21.62% from the stock’s previous close.
ARRS has been the subject of several other reports. BidaskClub lowered shares of ARRIS International from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Raymond James Financial set a $36.00 target price on shares of ARRIS International and gave the company a “buy” rating in a report on Thursday, December 14th. ValuEngine upgraded shares of ARRIS International from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Northland Securities set a $25.00 target price on shares of ARRIS International and gave the company a “hold” rating in a report on Monday, October 16th. Finally, TheStreet upgraded shares of ARRIS International from a “c+” rating to a “b” rating in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.
ARRIS International (NASDAQ ARRS) traded down $0.02 during midday trading on Tuesday, hitting $25.49. The company had a trading volume of 1,275,967 shares, compared to its average volume of 1,750,000. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. ARRIS International has a 12 month low of $24.75 and a 12 month high of $30.79. The company has a market capitalization of $4,770.00, a PE ratio of 29.30, a PEG ratio of 0.97 and a beta of 1.40.
ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $0.77 earnings per share. ARRIS International’s quarterly revenue was down .2% compared to the same quarter last year. equities analysts anticipate that ARRIS International will post 2.32 EPS for the current year.
In related news, SVP Philip Charles Baldock sold 4,930 shares of ARRIS International stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $26.11, for a total transaction of $128,722.30. Following the transaction, the senior vice president now owns 13,529 shares in the company, valued at approximately $353,242.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lawrence Robinson sold 4,167 shares of ARRIS International stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $30.00, for a total transaction of $125,010.00. Following the transaction, the insider now owns 71,721 shares in the company, valued at approximately $2,151,630. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,347 shares of company stock valued at $290,307. 0.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of ARRIS International during the 2nd quarter valued at $233,000. Crossmark Global Holdings Inc. purchased a new position in shares of ARRIS International during the 3rd quarter valued at $473,000. Quantbot Technologies LP purchased a new stake in ARRIS International in the 3rd quarter worth $514,000. Meeder Asset Management Inc. lifted its stake in ARRIS International by 38.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 30,371 shares of the communications equipment provider’s stock worth $865,000 after purchasing an additional 8,496 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in ARRIS International by 18.3% in the 2nd quarter. Amalgamated Bank now owns 35,507 shares of the communications equipment provider’s stock worth $995,000 after purchasing an additional 5,488 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.
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ARRIS International Company Profile
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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