ARRIS International (ARRS) Receives New Coverage from Analysts at Loop Capital

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.

ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. ARRIS International had a net margin of 2.51% and a return on equity of 14.02%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $0.77 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. sell-side analysts forecast that ARRIS International will post 2.32 earnings per share for the current year.

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.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/29/arris-international-arrs-receives-new-coverage-from-analysts-at-loop-capital.html.

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.

The Fly

Analyst Recommendations for ARRIS International (NASDAQ:ARRS)

Receive News & Ratings for ARRIS International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply