Analysts at Loop Capital assumed coverage on shares of ARRIS International (NASDAQ:ARRS) in a report released on Monday, The Fly reports. The firm set a “buy” rating on the communications equipment provider’s stock.
Other analysts have also issued research reports about the company. TheStreet raised ARRIS International from a “c+” rating to a “b” rating in a research note on Monday, October 9th. Jefferies Group set a $38.00 price objective on ARRIS International and gave the company a “buy” rating in a research note on Wednesday, October 4th. ValuEngine raised ARRIS International from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Raymond James Financial set a $36.00 price objective on ARRIS International and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, Zacks Investment Research raised 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 Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $33.00.
Shares of ARRIS International (NASDAQ:ARRS) traded down $0.32 during midday trading on Monday, reaching $25.04. 745,546 shares of the company’s stock were exchanged, compared to its average volume of 1,543,897. ARRIS International has a twelve month low of $24.75 and a twelve month high of $30.79. 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 company has a market capitalization of $4,742.86, a PE ratio of 28.78, a P/E/G ratio of 0.97 and a beta of 1.40.
In related news, SVP Patrick W. Macken sold 1,250 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $29.26, for a total value of $36,575.00. Following the completion of the sale, the senior vice president now owns 4,556 shares of the company’s stock, valued at $133,308.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lawrence Robinson sold 4,167 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was 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 directly owns 71,721 shares of the company’s stock, valued at approximately $2,151,630. The disclosure for this sale can be found here. Insiders sold 10,347 shares of company stock valued at $290,307 in the last ninety days. 0.90% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in ARRS. FNY Partners Fund LP purchased a new stake in ARRIS International in the fourth quarter worth $100,000. Oakbrook Investments LLC purchased a new stake in ARRIS International in the fourth quarter worth $361,000. Crossmark Global Holdings Inc. purchased a new stake in ARRIS International in the third quarter worth $473,000. Quantbot Technologies LP purchased a new stake in ARRIS International in the third quarter worth $514,000. Finally, Meeder Asset Management Inc. lifted its stake in ARRIS International by 38.8% in the third quarter. Meeder Asset Management Inc. now owns 30,371 shares of the communications equipment provider’s stock worth $865,000 after acquiring an additional 8,496 shares during the period. 87.16% of the stock is owned by institutional investors.
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ARRIS International 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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