Raymond James Financial Analysts Give ARRIS International (ARRS) a $38.00 Price Target
ARRIS International (NASDAQ:ARRS) has been assigned a $38.00 target price by equities researchers at Raymond James Financial in a research report issued on Monday. The firm presently has a “buy” rating on the communications equipment provider’s stock. Raymond James Financial’s price target would suggest a potential upside of 29.52% from the company’s current price.
A number of other brokerages have also recently weighed in on ARRS. ValuEngine cut shares of ARRIS International from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub cut shares of ARRIS International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Northland Securities set a $25.00 price target on shares of ARRIS International and gave the stock a “hold” rating in a research report on Monday, October 16th. Jefferies Group set a $38.00 price target on shares of ARRIS International and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, TheStreet raised shares of ARRIS International from a “c+” rating to a “b” rating in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. ARRIS International currently has an average rating of “Buy” and an average target price of $33.89.
Shares of ARRIS International (NASDAQ ARRS) traded down $0.31 on Monday, reaching $29.34. The company’s stock had a trading volume of 2,123,469 shares, compared to its average volume of 1,464,035. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.43. The firm has a market cap of $5,550.00, a P/E ratio of 12.74, a PEG ratio of 1.28 and a beta of 1.39. ARRIS International has a 52 week low of $24.75 and a 52 week high of $31.52.
In other news, insider Lawrence Robinson sold 4,167 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $30.00, for a total transaction of $125,010.00. Following the transaction, the insider now owns 71,721 shares of the company’s stock, valued at $2,151,630. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patrick W. Macken sold 1,250 shares of the 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 directly owns 4,556 shares in the company, valued at approximately $133,308.56. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
Several hedge funds have recently modified their holdings of ARRS. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of ARRIS International during the second quarter worth about $233,000. NGAM Advisors L.P. raised its stake in ARRIS International by 4.6% during the second 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. Fernwood Investment Management LLC raised its stake in ARRIS International by 16.9% during the second quarter. Fernwood Investment Management LLC now owns 13,800 shares of the communications equipment provider’s stock worth $387,000 after acquiring an additional 2,000 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in ARRIS International during the third quarter worth about $473,000. Finally, Quantbot Technologies LP acquired a new stake in ARRIS International during the third quarter worth about $514,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.
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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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