ARRIS International (ARRS) – Investment Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for ARRIS International (NASDAQ: ARRS):

  • 2/2/2018 – ARRIS International was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 2/2/2018 – ARRIS International was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 1/31/2018 – ARRIS International was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Shares of ARRIS have underperformed its industry in 2017 due to multiple headwinds. The company's revenue related woes are concerning. It anticipates revenues in the range of $1,675-$1,750 million for the fourth quarter. Customer concentration remains high for ARRIS with few customers accounting for a significant portion of its top-line. Moreover, at the investor day, ARRIS stated that 2017 earnings (adjusted) are expected in the band of $2.40–$2.60, way below the 2016 figure. The negativity surrounding the stock is evident from the Zacks Consensus Estimate for the fourth quarter being revised downward 6.1% in the last 90 days. Detailed results will be out on Feb 14. However, we are impressed by the company's acquisition of Ruckus Wireless and ICX Switch units from Broadcom in December 2017. The acquisition is expected to be value accretive to its earnings in the first year.”
  • 1/29/2018 – ARRIS International is now covered by analysts at Loop Capital. They set a “buy” rating and a $35.00 price target on the stock.
  • 1/13/2018 – ARRIS International was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 1/12/2018 – ARRIS International was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 12/27/2017 – ARRIS International was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 12/20/2017 – ARRIS International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ARRIS has an impressive earnings history. We expected the company to perform well in the final quarter of 2017 too driven by its strong product portfolio. The company  expects earnings (adjusted) between 74 cents and 80 cents in the fourth quarter of 2017. The company has recently inked several deals to broaden its product portfolio. Most recently, it completed the previously announced acquisition of Ruckus Wireless and ICX Switch units from Broadcom. The acquisition is expected to be value accretive to its earnings in the first year. However, the company's revenue related woes are concerning. It anticipates revenues in the range of $1,675-$1,750 million for the fourth quarter. Customer concentration remains high for ARRIS with few customers accounting for a significant portion of its top-line. In fact shares of the company have underperformed its industry so far this year.”
  • 12/20/2017 – ARRIS International was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 12/19/2017 – ARRIS International was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $31.00 price target on the stock.
  • 12/14/2017 – ARRIS International was given a new $36.00 price target on by analysts at Raymond James Financial, Inc.. They now have a “buy” rating on the stock.

Shares of ARRIS International plc (NASDAQ ARRS) traded down $0.29 during mid-day trading on Monday, hitting $23.17. 1,932,100 shares of the stock were exchanged, compared to its average volume of 1,538,792. ARRIS International plc has a 12 month low of $22.60 and a 12 month high of $30.79. The firm has a market capitalization of $4,333.28, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.43.

In related news, insider Lawrence Robinson sold 4,167 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 71,721 shares in the company, valued at $2,151,630. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Philip Charles Baldock sold 4,930 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $26.11, for a total transaction of $128,722.30. Following the completion of the transaction, the senior vice president now owns 13,529 shares in the company, valued at $353,242.19. The disclosure for this sale can be found here. Insiders sold 10,347 shares of company stock worth $290,307 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

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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