Raymond James Financial Reiterates $36.00 Price Target for ARRIS International (ARRS)
ARRIS International (NASDAQ:ARRS) has been assigned a $36.00 target price by Raymond James Financial in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Raymond James Financial’s price target points to a potential upside of 39.43% from the stock’s current price.
A number of other research analysts have also recently weighed in on the stock. BidaskClub cut shares of ARRIS International from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. ValuEngine raised shares of ARRIS International from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of ARRIS International from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, November 7th. Northland Securities set a $25.00 target price on shares of ARRIS International and gave the stock a “hold” rating in a research report on Monday, October 16th. Finally, TheStreet raised shares of ARRIS International from a “c+” rating to a “b” rating in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. ARRIS International currently 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 mid-day trading on Thursday, reaching $25.82. 6,461,289 shares of the company’s stock were exchanged, compared to its average volume of 1,491,040. The firm has a market capitalization of $5,380.60, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.23 and a beta of 1.39. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.65. ARRIS International has a 1 year low of $24.75 and a 1 year high of $31.52.
ARRIS International (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. ARRIS International had a net margin of 2.51% and a return on equity of 14.02%. ARRIS International’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. research analysts anticipate that ARRIS International will post 2.33 earnings per share for the current fiscal year.
In related news, insider Lawrence Robinson sold 4,167 shares of ARRIS International stock in a transaction 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 owns 71,721 shares in the company, valued at $2,151,630. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Patrick W. Macken sold 1,250 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $29.26, for a total transaction 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 disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Capstone Investment Advisors Netherlands B.V. bought a new stake in ARRIS International during the second quarter valued at $233,000. NGAM Advisors L.P. increased 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 valued at $313,000 after purchasing an additional 489 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in ARRIS International during the third quarter valued at $473,000. Quantbot Technologies LP bought a new stake in ARRIS International during the third quarter valued at $514,000. Finally, Aperio Group LLC grew its position in shares of ARRIS International by 33.7% during the second 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 last quarter. Hedge funds and other 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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