ARRIS International (ARRS) Given a $38.00 Price Target at Raymond James Financial
Raymond James Financial set a $38.00 target price on ARRIS International (NASDAQ:ARRS) in a research report report published on Monday morning. The brokerage currently has a buy rating on the communications equipment provider’s stock.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of ARRIS International from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Monday, August 7th. ValuEngine raised shares of ARRIS International from a hold rating to a buy rating in a report on Monday, October 2nd. BidaskClub cut shares of ARRIS International from a hold rating to a sell rating in a report on Wednesday, August 23rd. Northland Securities set a $25.00 price target on shares of ARRIS International and gave the stock a hold rating in a report on Monday, October 16th. Finally, TheStreet raised shares of ARRIS International from a c+ rating to a b rating in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $33.89.
ARRIS International (NASDAQ:ARRS) traded down $0.03 during trading on Monday, hitting $29.65. 1,129,300 shares of the company’s stock traded hands, compared to its average volume of 1,461,205. ARRIS International has a 1 year low of $24.75 and a 1 year high of $31.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 1.83. The company has a market cap of $5,550.00, a PE ratio of 12.74, a P/E/G ratio of 1.28 and a beta of 1.39.
ARRIS International (NASDAQ:ARRS) last posted its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. ARRIS International had a net margin of 2.51% and a return on equity of 14.02%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $0.77 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. sell-side analysts expect that ARRIS International will post 2.31 EPS for the current fiscal year.
In related news, SVP Patrick W. Macken sold 1,250 shares of ARRIS International stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $29.26, for a total value of $36,575.00. Following the completion of the transaction, the senior vice president now directly owns 4,556 shares in the company, valued at approximately $133,308.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lawrence Robinson sold 4,167 shares of ARRIS International stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $30.00, for a total transaction of $125,010.00. Following the completion of the transaction, the insider now owns 71,721 shares of the company’s stock, valued at $2,151,630. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in ARRS. Capstone Investment Advisors Netherlands B.V. purchased a new position in ARRIS International in the 2nd quarter valued at approximately $233,000. NGAM Advisors L.P. grew its stake in ARRIS International by 4.6% in the 2nd quarter. NGAM Advisors L.P. now owns 11,170 shares of the communications equipment provider’s stock valued at $313,000 after buying an additional 489 shares in the last quarter. Fernwood Investment Management LLC grew its stake in ARRIS International by 16.9% in the 2nd quarter. Fernwood Investment Management LLC now owns 13,800 shares of the communications equipment provider’s stock valued at $387,000 after buying an additional 2,000 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in ARRIS International in the 3rd quarter valued at approximately $473,000. Finally, Quantbot Technologies LP purchased a new position in ARRIS International in the 3rd quarter valued at approximately $514,000. Institutional investors and hedge funds own 86.64% of the company’s stock.
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About ARRIS International
ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.
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