ARRIS International (ARRS) Lowered to Sector Perform at Royal Bank of Canada

ARRIS International (NASDAQ:ARRS) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report released on Thursday, The Fly reports.

Several other research analysts also recently commented on ARRS. ValuEngine raised ARRIS International from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Co began coverage on ARRIS International in a research report on Thursday, July 12th. They issued an “outperform” rating and a $32.00 price target on the stock. Northland Securities reaffirmed a “hold” rating and issued a $23.00 price target on shares of ARRIS International in a research report on Thursday, August 2nd. BidaskClub raised ARRIS International from a “strong sell” rating to a “sell” rating in a research report on Friday, October 19th. Finally, TheStreet raised ARRIS International from a “c” rating to a “b-” rating in a research report on Friday, September 21st. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. ARRIS International presently has an average rating of “Hold” and an average target price of $30.21.

Shares of ARRS stock traded up $0.04 during trading on Thursday, reaching $30.72. The company had a trading volume of 17,455,823 shares, compared to its average volume of 1,962,902. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.16 and a current ratio of 1.59. ARRIS International has a one year low of $21.55 and a one year high of $30.90. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.65 and a beta of 1.16.

ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. On average, analysts forecast that ARRIS International will post 2.59 EPS for the current fiscal year.

In other ARRIS International news, CEO Bruce William Mcclelland purchased 1,500 shares of the company’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $24.08 per share, with a total value of $36,120.00. Following the transaction, the chief executive officer now directly owns 242,256 shares in the company, valued at approximately $5,833,524.48. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARRS. Strs Ohio increased its position 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. Putnam Investments LLC increased its position in shares of ARRIS International by 561.2% during the second quarter. Putnam Investments LLC now owns 153,180 shares of the communications equipment provider’s stock valued at $3,745,000 after purchasing an additional 130,013 shares during the period. Russell Investments Group Ltd. increased its position in shares of ARRIS International by 12.7% during the third quarter. Russell Investments Group Ltd. now owns 868,516 shares of the communications equipment provider’s stock valued at $22,569,000 after purchasing an additional 97,977 shares during the period. James Investment Research Inc. bought a new stake in shares of ARRIS International during the second quarter valued at approximately $2,019,000. Finally, Meeder Asset Management Inc. increased its position in shares of ARRIS International by 457.3% during the second 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 period. Institutional investors and hedge funds own 87.56% of the company’s stock.

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.

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