ARRIS International (NASDAQ:ARRS) was upgraded by analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a $30.50 target price on the communications equipment provider’s stock. Goldman Sachs Group’s target price would indicate a potential downside of 0.72% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. TheStreet raised ARRIS International from a “c” rating to a “b-” rating in a research report on Friday, September 21st. Needham & Company LLC downgraded ARRIS International from a “buy” rating to a “hold” rating in a research report on Thursday. Loop Capital downgraded ARRIS International from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine raised ARRIS International from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Northland Securities reaffirmed a “hold” rating and set a $23.00 price objective on shares of ARRIS International in a research report on Thursday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $30.21.
Shares of ARRS stock opened at $30.72 on Thursday. ARRIS International has a 1-year low of $21.55 and a 1-year high of $30.90. The stock has a market cap of $5.01 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.65 and a beta of 1.16. 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 (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 analysts’ consensus estimates of $0.67 by $0.01. ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, equities analysts anticipate that ARRIS International will post 2.59 earnings per share for the current fiscal year.
In other ARRIS International news, CEO Bruce William Mcclelland purchased 1,500 shares of the stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $24.08 per share, with a total value of $36,120.00. Following the completion of the acquisition, the chief executive officer now owns 242,256 shares in the company, valued at $5,833,524.48. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. First Hawaiian Bank acquired a new stake in ARRIS International in the third quarter worth about $140,000. Delphi Management Inc. MA acquired a new stake in ARRIS International in the second quarter worth about $212,000. Hartford Investment Management Co. acquired a new stake in ARRIS International in the second quarter worth about $305,000. Commonwealth Bank of Australia acquired a new stake in ARRIS International in the third quarter worth about $499,000. Finally, Oakbrook Investments LLC boosted its holdings in ARRIS International by 31.7% in the third quarter. Oakbrook Investments LLC now owns 21,600 shares of the communications equipment provider’s stock worth $561,000 after acquiring an additional 5,200 shares in the last quarter. 87.56% of the stock is owned by institutional investors and hedge funds.
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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