ARRIS International (NASDAQ:ARRS) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
ARRS has been the subject of several other reports. Zacks Investment Research upgraded ARRIS International from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Monday, August 7th. Northland Securities reiterated a “hold” rating and set a $24.00 price objective on shares of ARRIS International in a research note on Thursday, August 3rd. TheStreet upgraded ARRIS International from a “c+” rating to a “b” rating in a research note on Monday, October 9th. Jefferies Group set a $38.00 target price on ARRIS International and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, BidaskClub lowered ARRIS International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $33.38.
Shares of ARRIS International (ARRS) traded down $0.29 during midday trading on Friday, hitting $29.68. The company had a trading volume of 1,340,000 shares, compared to its average volume of 786,719. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $5,550.78, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.28 and a beta of 1.39. ARRIS International has a twelve month low of $24.75 and a twelve month 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 dated Monday, November 20th. The stock was sold at an average price of $29.26, for a total transaction of $36,575.00. Following the transaction, the senior vice president now owns 4,556 shares in the company, valued at $133,308.56. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of ARRIS International by 6.9% during the third quarter. Public Employees Retirement System of Ohio now owns 129,308 shares of the communications equipment provider’s stock worth $3,684,000 after purchasing an additional 8,301 shares during the period. Neuberger Berman Group LLC raised its position in ARRIS International by 4.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,030,172 shares of the communications equipment provider’s stock valued at $57,840,000 after buying an additional 92,445 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in ARRIS International in the 3rd quarter valued at approximately $17,042,000. Thornburg Investment Management Inc. raised its position in ARRIS International by 4.4% in the 3rd quarter. Thornburg Investment Management Inc. now owns 709,992 shares of the communications equipment provider’s stock valued at $20,228,000 after buying an additional 30,156 shares during the last quarter. Finally, Twin Capital Management Inc. acquired a new stake in ARRIS International in the 3rd quarter valued at approximately $1,492,000. 86.63% of the stock is currently owned by institutional investors.
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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