Jefferies Group LLC Analysts Give ARRIS International PLC (ARRS) a $38.00 Price Target
Jefferies Group LLC set a $38.00 target price on ARRIS International PLC (NASDAQ:ARRS) in a research note released on Wednesday. The firm currently has a buy rating on the communications equipment provider’s stock.
ARRS has been the topic of a number of other research reports. ValuEngine raised shares of ARRIS International PLC from a hold rating to a buy rating in a report on Monday, October 2nd. BTIG Research began coverage on shares of ARRIS International PLC in a report on Thursday, June 15th. They issued a buy rating and a $38.00 price target on the stock. Zacks Investment Research cut shares of ARRIS International PLC from a buy rating to a hold rating in a report on Tuesday, August 8th. BidaskClub cut shares of ARRIS International PLC from a buy rating to a hold rating in a report on Tuesday, July 4th. Finally, Northland Securities reaffirmed a hold rating and issued a $24.00 price target on shares of ARRIS International PLC in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $33.25.
ARRIS International PLC (ARRS) traded up 0.73% during trading on Wednesday, reaching $28.94. The company’s stock had a trading volume of 760,184 shares. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 43.72 and a beta of 1.33. The stock’s 50-day moving average is $27.69 and its 200 day moving average is $27.55. ARRIS International PLC has a 52-week low of $24.75 and a 52-week high of $31.52.
ARRIS International PLC (NASDAQ:ARRS) last posted its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. ARRIS International PLC had a net margin of 1.90% and a return on equity of 13.97%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm earned $0.84 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that ARRIS International PLC will post $2.54 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece was reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/jefferies-group-llc-analysts-give-arris-international-plc-arrs-a-38-00-price-target/1615932.html.
In other ARRIS International PLC news, EVP David Potts sold 2,502 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $27.67, for a total transaction of $69,230.34. Following the sale, the executive vice president now owns 90,592 shares of the company’s stock, valued at approximately $2,506,680.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen J. Mccaffery sold 12,609 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $30.00, for a total transaction of $378,270.00. Following the sale, the insider now directly owns 9,127 shares in the company, valued at approximately $273,810. The disclosure for this sale can be found here. Insiders have sold a total of 23,255 shares of company stock worth $676,591 in the last three months. Insiders own 0.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of ARRS. Ameriprise Financial Inc. raised its holdings in ARRIS International PLC by 16.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,244,590 shares of the communications equipment provider’s stock valued at $146,962,000 after acquiring an additional 743,332 shares during the period. Russell Investments Group Ltd. raised its holdings in ARRIS International PLC by 76.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 885,606 shares of the communications equipment provider’s stock valued at $24,815,000 after acquiring an additional 383,039 shares during the period. Strs Ohio raised its holdings in ARRIS International PLC by 22.4% during the 2nd quarter. Strs Ohio now owns 1,910,000 shares of the communications equipment provider’s stock valued at $53,518,000 after acquiring an additional 350,000 shares during the period. Omega Advisors Inc. raised its holdings in ARRIS International PLC by 20.7% during the 1st quarter. Omega Advisors Inc. now owns 1,677,032 shares of the communications equipment provider’s stock valued at $44,357,000 after acquiring an additional 287,620 shares during the period. Finally, Quantitative Investment Management LLC bought a new stake in ARRIS International PLC during the 2nd quarter valued at $7,428,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.
About ARRIS International PLC
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.
Receive News & Ratings for ARRIS International PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.