ARRIS International (NASDAQ:ARRS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Monday, February 4th.
ARRS has been the topic of a number of other research reports. Royal Bank of Canada downgraded ARRIS International from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 8th. Needham & Company LLC downgraded ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Raymond James downgraded ARRIS International from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $36.00 to $29.00 in a report on Monday, October 15th. Zacks Investment Research reaffirmed a “hold” rating on shares of ARRIS International in a report on Monday, November 12th. Finally, Jefferies Financial Group downgraded ARRIS International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $38.00 to $31.75 in a report on Monday, November 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $30.03.
Shares of NASDAQ ARRS traded up $0.02 on Monday, hitting $31.70. The company had a trading volume of 1,865,679 shares, compared to its average volume of 1,914,429. ARRIS International has a 12-month low of $21.55 and a 12-month high of $31.74. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.15. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.91 and a beta of 0.97.
ARRIS International (NASDAQ:ARRS) last issued its earnings results on Thursday, February 21st. The communications equipment provider reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. ARRIS International had a return on equity of 15.06% and a net margin of 1.69%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share.
In other news, insider Ian Edward Whiting sold 14,067 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $31.65, for a total transaction of $445,220.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel T. Whalen sold 9,560 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $31.64, for a total value of $302,478.40. Following the completion of the sale, the insider now owns 15,000 shares in the company, valued at $474,600. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. grace capital increased its position in ARRIS International by 37.5% in the 4th quarter. grace capital now owns 5,500 shares of the communications equipment provider’s stock valued at $168,000 after acquiring an additional 1,500 shares during the period. US Bancorp DE increased its position in shares of ARRIS International by 8.3% during the 3rd quarter. US Bancorp DE now owns 37,066 shares of the communications equipment provider’s stock valued at $965,000 after purchasing an additional 2,849 shares during the period. Tocqueville Asset Management L.P. increased its position in shares of ARRIS International by 1.8% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 270,223 shares of the communications equipment provider’s stock valued at $7,023,000 after purchasing an additional 4,888 shares during the period. Oakbrook Investments LLC increased its position in shares of ARRIS International by 31.7% during the 3rd 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. Finally, First Hawaiian Bank acquired a new position in shares of ARRIS International during the 3rd quarter valued at $140,000. Hedge funds and other institutional investors own 82.25% of the company’s stock.
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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