ARRIS International PLC (ARRS) Receives Consensus Rating of “Buy” from Brokerages
ARRIS International PLC (NASDAQ:ARRS) has earned an average rating of “Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $33.75.
A number of equities research analysts have weighed in on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of ARRIS International PLC from a “neutral” rating to a “buy” rating and boosted their target price for the company from $29.00 to $32.00 in a research note on Tuesday, March 14th. Needham & Company LLC decreased their target price on shares of ARRIS International PLC from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $34.00 target price on shares of ARRIS International PLC in a research note on Friday, May 5th. Royal Bank Of Canada reiterated a “buy” rating on shares of ARRIS International PLC in a research note on Tuesday, May 2nd. Finally, ValuEngine lowered shares of ARRIS International PLC from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st.
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In related news, EVP David Potts sold 1,477 shares of the company’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $26.22, for a total value of $38,726.94. Following the completion of the transaction, the executive vice president now owns 85,499 shares of the company’s stock, valued at approximately $2,241,783.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 4,706 shares of company stock valued at $124,511 in the last ninety days. 1.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ARRS. Nationwide Fund Advisors increased its position in shares of ARRIS International PLC by 4.2% in the first quarter. Nationwide Fund Advisors now owns 750,127 shares of the communications equipment provider’s stock valued at $19,841,000 after buying an additional 29,934 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of ARRIS International PLC by 0.3% in the first quarter. Rice Hall James & Associates LLC now owns 78,162 shares of the communications equipment provider’s stock valued at $2,067,000 after buying an additional 259 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of ARRIS International PLC by 4.1% in the first quarter. Capstone Asset Management Co. now owns 15,711 shares of the communications equipment provider’s stock valued at $416,000 after buying an additional 620 shares in the last quarter. Teachers Advisors LLC increased its position in shares of ARRIS International PLC by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 862,647 shares of the communications equipment provider’s stock valued at $25,992,000 after buying an additional 55,533 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of ARRIS International PLC during the fourth quarter valued at $55,207,000. 87.34% of the stock is owned by institutional investors.
Shares of ARRIS International PLC (NASDAQ:ARRS) opened at 28.31 on Friday. ARRIS International PLC has a 12 month low of $20.05 and a 12 month high of $31.52. The company’s 50 day moving average price is $28.02 and its 200-day moving average price is $28.02. The stock has a market capitalization of $5.32 billion, a P/E ratio of 30.02 and a beta of 1.35.
ARRIS International PLC (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, May 3rd. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. ARRIS International PLC had a return on equity of 15.77% and a net margin of 2.69%. Equities analysts predict that ARRIS International PLC will post $2.51 earnings per share for the current year.
ARRIS International PLC Company Profile
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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