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.
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.
