Raymond James Financial Reiterates $36.00 Price Target for ARRIS International (ARRS)
Raymond James Financial set a $36.00 price objective on ARRIS International (NASDAQ:ARRS) in a research report released on Thursday. The brokerage currently has a buy rating on the communications equipment provider’s stock.
A number of other research analysts have also commented on ARRS. BidaskClub lowered ARRIS International from a hold rating to a sell rating in a report on Wednesday, August 23rd. ValuEngine lowered ARRIS International from a buy rating to a hold rating in a report on Wednesday, September 6th. Jefferies Group set a $38.00 price objective on ARRIS International and gave the company a buy rating in a report on Wednesday, October 4th. TheStreet raised ARRIS International from a c+ rating to a b rating in a report on Monday, October 9th. Finally, Northland Securities set a $25.00 target price on ARRIS International and gave the company a hold rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $33.67.
Shares of ARRIS International (NASDAQ ARRS) traded down $1.15 during midday trading on Thursday, hitting $25.82. The stock had a trading volume of 6,460,000 shares, compared to its average volume of 1,290,000. 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 firm has a market cap of $4,830.00, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 1.11 and a beta of 1.39. ARRIS International has a fifty-two week low of $24.75 and a fifty-two week high of $31.52.
In other ARRIS International news, SVP Patrick W. Macken sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $29.26, for a total value of $36,575.00. Following the sale, the senior vice president now owns 4,556 shares of the company’s stock, valued at approximately $133,308.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lawrence Robinson sold 4,167 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $30.00, for a total value of $125,010.00. Following the completion of the sale, the insider now directly owns 71,721 shares in the company, valued at approximately $2,151,630. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in ARRS. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of ARRIS International in the 2nd quarter worth approximately $233,000. NGAM Advisors L.P. lifted its position in shares of 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 worth $313,000 after acquiring an additional 489 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of ARRIS International in the 3rd quarter worth approximately $473,000. Quantbot Technologies LP bought a new stake in shares of ARRIS International in the 3rd quarter worth approximately $514,000. Finally, Aperio Group LLC lifted its position in shares of ARRIS International by 33.7% in the 2nd quarter. Aperio Group LLC now owns 25,776 shares of the communications equipment provider’s stock worth $722,000 after acquiring an additional 6,492 shares during the period. Institutional investors own 86.64% of the company’s stock.
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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