ARRIS International PLC (ARRS) Receives Average Recommendation of “Buy” from Analysts
ARRIS International PLC (NASDAQ:ARRS) has received an average rating of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $33.67.
ARRS has been the topic of several research analyst reports. Northland Securities reissued a “hold” rating and set a $24.00 target price on shares of ARRIS International PLC in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of ARRIS International PLC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Monday, August 7th. BidaskClub lowered shares of ARRIS International PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. ValuEngine raised shares of ARRIS International PLC from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, TheStreet raised shares of ARRIS International PLC from a “c+” rating to a “b” rating in a research note on Monday, October 9th.
ARRIS International PLC (NASDAQ ARRS) opened at 28.04 on Thursday. The stock’s 50 day moving average is $27.98 and its 200-day moving average is $27.72. The company has a market capitalization of $5.26 billion, a PE ratio of 42.36 and a beta of 1.33. ARRIS International PLC has a 12 month low of $24.75 and a 12 month high of $31.52.
ARRIS International PLC (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share 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 company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company posted $0.84 earnings per share. ARRIS International PLC’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts expect that ARRIS International PLC will post $2.53 EPS for the current year.
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In other ARRIS International PLC news, insider Stephen J. Mccaffery sold 12,609 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $30.00, for a total value of $378,270.00. Following the transaction, the insider now directly owns 9,127 shares of the company’s stock, valued at $273,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the business. First Quadrant L P CA bought a new position in shares of ARRIS International PLC in the third quarter valued at $3,827,000. Meeder Asset Management Inc. lifted its stake in shares of ARRIS International PLC by 38.8% in the third quarter. Meeder Asset Management Inc. now owns 30,371 shares of the communications equipment provider’s stock valued at $865,000 after buying an additional 8,496 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of ARRIS International PLC by 2.8% in the second quarter. Public Employees Retirement System of Ohio now owns 121,007 shares of the communications equipment provider’s stock valued at $3,391,000 after buying an additional 3,289 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of ARRIS International PLC in the second quarter valued at $233,000. Finally, UBS Oconnor LLC bought a new position in shares of ARRIS International PLC in the second quarter valued at $1,401,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.
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.
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