ARRIS International (NASDAQ:ARRS) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.
Several other analysts have also issued reports on the company. ValuEngine lowered ARRIS International from a “sell” rating to a “strong sell” rating in a research note on Monday, July 30th. Raymond James lowered ARRIS International from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $36.00 to $29.00 in a research note on Monday. Wells Fargo & Co initiated coverage on ARRIS International in a research note on Thursday, July 12th. They issued an “outperform” rating and a $32.00 target price for the company. TheStreet raised ARRIS International from a “c” rating to a “b-” rating in a research note on Friday, September 21st. Finally, Northland Securities reaffirmed a “hold” rating and issued a $23.00 target price on shares of ARRIS International in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $29.63.
Shares of ARRS stock traded up $0.25 during trading on Friday, hitting $23.28. The company had a trading volume of 771,100 shares, compared to its average volume of 1,379,547. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.67. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. ARRIS International has a 52 week low of $21.83 and a 52 week high of $30.00.
ARRIS International (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, August 1st. The communications equipment provider reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. As a group, sell-side analysts forecast that ARRIS International will post 2.53 EPS for the current fiscal year.
In related news, CEO Bruce William Mcclelland acquired 1,500 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $24.08 per share, with a total value of $36,120.00. Following the completion of the purchase, the chief executive officer now owns 242,256 shares in the company, valued at approximately $5,833,524.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have bought 5,040 shares of company stock valued at $120,666. Insiders own 0.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in shares of ARRIS International by 6.0% during the third quarter. Strs Ohio now owns 5,015,000 shares of the communications equipment provider’s stock valued at $130,339,000 after purchasing an additional 286,005 shares during the period. Oakbrook Investments LLC boosted its stake in shares of ARRIS International by 31.7% during the third quarter. Oakbrook Investments LLC now owns 21,600 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 5,200 shares during the period. First Hawaiian Bank purchased a new stake in shares of ARRIS International during the third quarter valued at approximately $140,000. Delphi Management Inc. MA purchased a new stake in shares of ARRIS International during the second quarter valued at approximately $212,000. Finally, Glenmede Trust Co. NA boosted its stake in shares of ARRIS International by 3.5% during the second quarter. Glenmede Trust Co. NA now owns 1,166,628 shares of the communications equipment provider’s stock valued at $28,518,000 after purchasing an additional 39,031 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.
About ARRIS International
ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments: Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.
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