ARRIS International plc (NASDAQ:ARRS) has earned an average rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.25.
A number of brokerages recently weighed in on ARRS. ValuEngine upgraded ARRIS International from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 29th. Northland Securities reiterated a “hold” rating and issued a $23.00 target price on shares of ARRIS International in a report on Thursday, August 2nd. Wells Fargo & Co began coverage on ARRIS International in a report on Thursday, July 12th. They issued an “outperform” rating and a $32.00 target price on the stock. Goldman Sachs Group cut ARRIS International from a “neutral” rating to a “sell” rating and set a $24.00 target price on the stock. in a report on Wednesday, June 20th. Finally, BidaskClub cut ARRIS International from a “sell” rating to a “strong sell” rating in a report on Thursday, May 24th.
In other ARRIS International news, SVP Philip Charles Baldock sold 1,394 shares of the firm’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $25.47, for a total value of $35,505.18. Following the transaction, the senior vice president now directly owns 12,691 shares of the company’s stock, valued at $323,239.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bruce William Mcclelland acquired 1,500 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was bought at an average cost of $23.81 per share, for a total transaction of $35,715.00. Following the completion of the transaction, the chief executive officer now directly owns 240,756 shares of the company’s stock, valued at $5,732,400.36. The disclosure for this purchase can be found here. Insiders purchased 5,040 shares of company stock worth $120,666 in the last quarter. 0.90% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in ARRS. Scopia Capital Management LP purchased a new position in ARRIS International in the first quarter valued at about $49,888,000. BlackRock Inc. raised its position in ARRIS International by 2.9% in the first quarter. BlackRock Inc. now owns 14,930,731 shares of the communications equipment provider’s stock valued at $396,711,000 after purchasing an additional 419,716 shares during the period. Schwab Charles Investment Management Inc. raised its position in ARRIS International by 33.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,607,835 shares of the communications equipment provider’s stock valued at $42,721,000 after purchasing an additional 405,733 shares during the period. Schroder Investment Management Group purchased a new position in ARRIS International in the first quarter valued at about $7,676,000. Finally, Strs Ohio raised its position in ARRIS International by 6.2% in the second quarter. Strs Ohio now owns 4,728,995 shares of the communications equipment provider’s stock valued at $115,600,000 after purchasing an additional 273,995 shares during the period. 87.27% of the stock is currently owned by institutional investors.
ARRS stock opened at $26.64 on Friday. ARRIS International has a 52-week low of $22.33 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.16 and a current ratio of 1.59. The firm has a market cap of $4.74 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.56 and a beta of 1.25.
ARRIS International (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, August 1st. The communications equipment provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business earned $0.63 EPS. ARRIS International’s revenue for the quarter was up 3.7% compared to the same quarter last year. equities research analysts predict that ARRIS International will post 2.59 EPS for the current fiscal year.
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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