ARRIS International plc (NASDAQ:ARRS) has been assigned a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $29.29.
A number of equities analysts recently issued reports on ARRS shares. ValuEngine upgraded shares of ARRIS International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Raymond James cut shares of ARRIS International from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $36.00 to $29.00 in a research report on Monday, October 15th. BidaskClub upgraded shares of ARRIS International from a “strong sell” rating to a “sell” rating in a research report on Friday, October 19th. Wells Fargo & Co started coverage on shares of ARRIS International in a research report on Thursday, July 12th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, TheStreet cut shares of ARRIS International from a “b-” rating to a “c+” rating in a research report on Monday, October 22nd.
In other ARRIS International news, CEO Bruce William Mcclelland purchased 1,500 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was purchased at an average cost of $24.08 per share, for a total transaction of $36,120.00. Following the transaction, the chief executive officer now owns 242,256 shares in the company, valued at approximately $5,833,524.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders acquired 3,540 shares of company stock valued at $84,951. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ARRS. Strs Ohio increased its position in ARRIS International by 6.0% in the 3rd quarter. Strs Ohio now owns 5,015,000 shares of the communications equipment provider’s stock valued at $130,339,000 after acquiring an additional 286,005 shares during the period. Putnam Investments LLC increased its position in ARRIS International by 561.2% in the 2nd quarter. Putnam Investments LLC now owns 153,180 shares of the communications equipment provider’s stock valued at $3,745,000 after acquiring an additional 130,013 shares during the period. Russell Investments Group Ltd. increased its position in ARRIS International by 12.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 868,516 shares of the communications equipment provider’s stock valued at $22,569,000 after acquiring an additional 97,977 shares during the period. James Investment Research Inc. acquired a new position in ARRIS International in the 2nd quarter valued at approximately $2,019,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of ARRIS International by 457.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 85,324 shares of the communications equipment provider’s stock valued at $2,086,000 after purchasing an additional 70,015 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.
ARRS stock opened at $25.05 on Monday. The company has a market cap of $4.52 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.49 and a beta of 1.16. ARRIS International has a 1 year low of $21.55 and a 1 year high of $30.00. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.67.
ARRIS International Company Profile
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.
Featured Article: Analyst Ratings
Receive News & Ratings for ARRIS International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International and related companies with MarketBeat.com's FREE daily email newsletter.